Higgs & Sons has supported a Birmingham-based biomedical start-up in raising £2m as part of a venture capital funding round.
The law firm’s Tech and High Growth team played a pivotal role as Adapttech secured the funding, which will be used for new product developments and to drive sales of the company’s INSIGHT system.
The cutting-edge technology makes it faster and easier to correctly fit lower-limb prostheses and monitor the rehabilitation process.
Jamie Partington, partner at Higgs & Sons who leads its Tech and High Growth team, said: “We were delighted to be able to guide Adapttech and its management team through this process.
“From this platform, we are sure the company will continue to go from strength to strength.”
Adapttech develops smart and wearable technologies to help people with physical limitations improve their quality of life.
INSIGHT combines a 3D scanner, sensors, wearable technology and a mobile app to help those wearing prostheses.
The £2m funding round was supported by existing investors Bionova Capital, and the MEIF Proof of Concept & Early Stage Fund, an arm of the Midlands Engine Investment Fund. The round also saw new investors including ACF investors, Wealth Club, and Wren Capital.
Frederico Carpinteiro, founder of Adapttech, said: “We’re delighted to have secured significant investment from both existing and new investors as we seek to drive sales of INSIGHT.
“Higgs & Sons offered fantastic support and their experience of the sector made the whole process very smooth. This is a significant milestone for us.”
Higgs & Sons works closely with investment funds, founders and management teams, guiding them through investment rounds from start up, through to scale up and exit.
