Galway-based medtech company Bluedrop Medical has raised €10.5 million in a funding round that will help further the development of its remote patient monitoring system for the early detection of diabetic foot ulcers.
The company will also create 25 jobs this year as a result of the funding, more than doubling its current staff of 17, and increase its production capacity. The jobs will be a mix of engineering, product development and manufacturing. The engineering and development roles will be based in Ireland while the commercial roles will be in the US.
The oversubscribed round was co-led by Atlantic Bridge and Elkstone, with the European Innovation Council Fund, Furthr VC, Western Development Commission, Ascentifi and HBAN’s MedTech and Irrus Investments syndicates also backing the company. The company has raised €16 million to date.
Founded by Chris Murphy and Simon Kiersey in 2015, Bluedrop is aiming to reduce the rate of preventable amputations for people living with diabetes through the development of an internet of things-enabled device, similar to a bathroom scale, that allows patients to check their feet at home.
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