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23 November 2017

GripAble grasps $900,000

The mobility tool spinout has received an Innovate UK grant and equity funding from backers including venture firm Oxford Technology Management.

Author: Callum Cyrus, reporter

UK-based mobility tool producer GripAble was spun out of Imperial College London (ICL) on Tuesday with a reported £525,000 ($700,000) grant from Innovate UK and £150,000 equity from backers including venture firm Oxford Technology Management.

Oxford Technology had disclosed its £50,000 ($66,000) investment in its financial report for the third quarter of 2017.

The press release from Imperial Innovations, the tech transfer arm for Imperial College London, announcing the spinning out of GripAble gave the total as $800,000 but did not identify any equity investors.

GripAble has developed a computerised hand tool for measuring the dexterity of patients with hand or arm disabilities caused by conditions like arthritis, cerebral palsy or stroke.

The sensor-based technology uses mobile games to measure grip strength, arm movement and hand flexibility so the patient can engage with their progress easily.

GripAble was co-founded by two researchers from ICL’s Department of Bioengineering – Paul Rinne, who specialises in using neuroscience and robotics to assess motor skills, and Michael Mace, who received a PhD in biomedical engineering in 2013.

Rinne and Mace are now chief executive and chief technology officer of GripAble, respectively.

Rinne said: “We have a unique opportunity to rethink how therapists can engage with and motivate their patients in gyms at their bedside and at home, using mobile technologies that are now ubiquitous.

“As human resources become more scarce and healthcare costs increase healthcare systems will have to look to such technologies, not to replace, but complement and support the invaluable work of therapy teams.”

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