FeelTect, a Galway, Ireland-based connected-health, wound care company, raised €1.5M in funding.
Investors from multiple Halo Business Angel Network (HBAN) syndicates, including Irrus Investments, MedTech Syndicate, and Boole Investment Syndicate, along with CAJU Venture Partners, joined existing shareholders, while the WDC added to their existing investment in the company. The €1.5M raised in the current round follows an earlier €1.2M Seed round closed in 2022, which was supported by strategic healthcare investors and State agencies, including Enterprise Ireland, Dogpatch Labs, and the WDC.
The company intends to use the funds to expand its team, with additional hires including roles in R&D, manufacturing, project management, clinical affairs, and commercial development, create additional clinical collaborations, expand strategic partnerships, and advance commercialisation of its wound treatment monitoring technology.
Led by Founder and CEO, Dr Andrew Cameron and Dr Darren Burke, CTO, FeelTect is a connected-health, wound care company. Its flagship product, Tight Alright™, is connected-health technology for measuring and remotely monitoring sub-bandage pressure during compression therapy. The Tight Alright technology is comprised of an advanced wearable device, with multiple pressure sensors, that wirelessly connects with a digital platform. The technology unburdens care providers by enabling significant advancements in treatment application, patient self-management, and remote monitoring of compression therapy effectiveness. Furthermore, by facilitating optimal and consistent provision of gold-standard compression therapy, Tight Alright will reduce healing times and treatment costs, whilst enhancing the autonomy and quality of life for patients.
Since spinning out of the University of Galway in 2020, FeelTect have achieved numerous milestones, including FDA registration in USA, EUDMED registration in Europe, ISO 13485 accreditation, preliminary clinical validation, international patents on hardware and software technologies, and completion of design for manufacturing.
FinSMEs
20/12/2023