Healthtech firm Forth based in Chepstow is set to capitalise on the growth in the female science and technology market with a £1.6 million funding that will support the launch of its ground-breaking female health product.
Investors galore
Forth’s investment round has attracted backing from a consortium of both UK and overseas investors including Trajan Scientific and Medical, (Trajan) through its European subsidiary Trajan Scientific Europe Ltd. Headquartered in Melbourne, Australia, Trajan is a global developer and manufacturer of analytical science instruments, devices and solutions and has major operations in Australia, Europe, US and Asia.
Leading the team at Forth is CEO and Co-Founder Sarah Bolt. She said: “Our mission at Forth is simple – to give people a better understanding of their own body using a combination of science and technology. This investment will enable us to launch Female Hormone Mapping and also develop more unique and insightful products to help people engage proactively with their health. Trajan is a perfect partner as we share a focus on using science to advance preventative health while the Development Bank continues to support us as a Welsh-based company that is at the forefront of the femtech market.”
Stephen Tomisich, Chief Executive Officer and Managing Director, Trajan stated, “We have known the founders and majority shareholders at Forth for some time. We share common values around delivering good science that helps people achieve better health outcomes. We are both intensely focussed on delivering impact and working together we believe we will do just that.”
The Development Bank of Wales has also supported this second round of funding with follow-on equity of £250K bringing its total investment to date to £500K. Senior Investment Executive Alexander Leigh said: “Our follow-on equity funding coupled with Trajan’s strategic investment will now give Forth unique access to cutting edge technologies as they develop their innovative product offering with Female Hormone Mapping. We‘re proud to be behind this great team and wish them every success.”
Innovative femtech product
Launched in 2016, Forth is one of the UK’s leading companies in personalised biomarker tracking. Starting with a small sample of blood, the company helps people to navigate their way to better health by providing clear scientific data about their body’s biochemistry, together with expert advice to help them improve.
Since its initial seed investment, the company has gone from strength to strength and recently launched a ground-breaking product to help women gain better insight into their hormone fluctuations. Female Hormone Mapping is the first product in the world to use AI to help map how a woman’s hormones fluctuate throughout their entire cycle, rather than a single day which is current clinical practice. The product is particularly useful for those who want the certainty of entering the perimenopause, a time of life, where women are lacking sufficient support.
The post UK-based healthtech startup Forth raises £1.6M to launch innovative femtech product appeared first on UKTN (UK Tech News).
