TympaHealth, a digitised ear and hearing health assessment tool, has raised over £18 million in Series A funding, led by Octopus Ventures.
The tech is described as bringing “together three different diagnostic and treatment tools into one hand-held portable system” as a digital otoscope, microsuction system and hearing assessment tool to form a digital hearing health record.
It aims to address a challenge of “the way ear and hearing issues are currently diagnosed and treated is often disjointed, inaccessible, and faces long patient waiting times,” the company said.
On the funding raised, the company aims to expand access to its tech, and grow its team and services in the UK, Europe and enter into the US.
In the UK, the company has clients including Walgreen Boots Alliance, Sonova, Day Lewis Pharmacy, Demant (Hidden Hearing), Bupa, and the NHS to provide treatment through its platform.
“Our goal is to make ear and hearing healthcare easily accessible to everybody, on a global scale” said Dr Krishan Ramdoo, Founder & CEO of TympaHealth. “Putting the right technology and support into the hands of more healthcare professionals and community providers is the best possible place to start. The Tympa Platform has proven its benefits at every point in the healthcare value chain and with our new funding, we can expand that value to new partners and markets.”
Joe Stringer, Partner at Octopus Ventures, added: “The TympaHealth proposition is a fantastic exemplar for the quality of high growth healthtech and life science businesses we have in the UK. Using a high-quality product and a proposition geared around the consumer, they are reducing the burden of ear and hearing care in an overstretched NHS, while vastly improving patient experience and outcomes. They are building exactly the kind of game changing business we look to support, and they are in a market with huge potential. We couldn’t be happier to be backing them as they seize that potential and democratise ear and hearing healthcare access globally.”
The tech is CE marked, and FDA registered.
