SetSquared-affiliated health test kit supplier Forth has procured capital from investors including Development Bank of Wales, adding to a crowdfunding campaign in 2017.
Forth, a UK-based at-home blood test provider and member of the university-backed SetSquared Bristol incubator, has raised an undisclosed sum from investors including the publicly-owned Development Bank of Wales.
The deal also featured angel investors including an unnamed group from Angels Invest Wales and Craig Gulliford, the chief executive of medical device manufacturer Creo Medical.
Founded in 2014, Forth markets an at-home finger-prick blood test kits that allow consumers and athletes to determine an outline of their health requirements based on biometric tracking.
Results from the test are sent to the lab to search for a number of important biomarkers, such as stress, inflammation and bone health.
Forth currently offers two services – a wellbeing-focused package called Forth Life and a product catered to recreational and professional athletes branded Forth Edge.
The proceeds will be used to advance Forth’s technology as the company looks to add to its customer base.
Forth previously received $207,000 in an oversubscribed equity crowdfunding campaign closed in March 2017 that featured Craig Gulliford among others.
Gulliford, who has since joined the Forth board of directors, said: “I have an affinity for technology-based companies that have an innovative and disruptive proposition backed by great people. Forth ticks this box and the management team crucially also have the energy, passion, determination to succeed at all costs.”
SetSquared Bristol is part of the SetSquared academic enterprise partnership, which, in addition to University of Bristol, is backed by the universities of Bath, Surrey, Exeter and Southampton.
