Bluedrop Medical to add 25 jobs after €10.5m fundraise

31st March, 2023 – 25 new jobs are to be created by Galway-based medtech firm, Bluedrop Medical.

The move follows the raising by the company of €10.5m in new investment.

The fundraising was led by Atlantic Bridge and Elkstone and included the European Innovation Council Fund, Furthr VC, Western Development Commission, Ascentifi, and HBAN’s MedTech and Irrus Investments syndicates.

The company has developed a device to help those at risk of developing diabetic foot ulcers to easily check their feet at home.

The device is like a bathroom scale and captures HD images of the feet, along with temperature data, when an individual stands on it.

“This new funding is a testament to the huge amount of work our team has put into developing a world-class product that addresses a serious and growing medical need,” said Chris Murphy, Bluedrop Medical Chief Executive.

“The patients we target have lost feeling in their feet and have a 40% annual risk of developing a diabetic foot ulcer, with many leading to amputation. Almost all of these amputations are preventable.”

“Our mission is to reduce the risk of foot ulcers with a system that is both easy to use for the patient, and of zero burden to the healthcare system.”

To date, the company has raised €16m.

This latest round is to be used to complete clinical trials and start commercialisation.

It will also be used to enable Bluedrop Medical to expand its production capacity, alongside its product development and commercial teams.

The company currently has 17 staff but intends to increase its headcount to 42 this year.

The new roles will be in engineering, product development and manufacturing.

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