A Chepstow-based health tech firm is set to capitalise on the growth in the female science and technology market after securing £1.6m of funding to support the launch of a pioneering product.
Forth is behind a biomarker tracking platform which helps people navigate their way to better health
The company’s investment round has attracted backing from a consortium of both UK and overseas investors including Trajan Scientific and Medical, through its European subsidiary Trajan Scientific Europe. Headquartered in Melbourne, 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 chief executive and co-founder Sarah Bolt.
She said: “Today, more and more people are realising that understanding and measuring your body’s biochemistry is key for a long and healthy life. For women in particular, gaining unique insight into how their hormone levels fluctuate throughout their unique cycle can give women the support they have been lacking and help to close the gender health gap.”
Stephen Tomisich, chief executive and managing director at Trajan, added: “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 £250,000 bringing its total investment to date to £500,000.
Senior investment executive Alexander Leigh said: “Sarah and the team have done incredibly well to secure a strong market position in a rapidly growing sector. The company is ranked by Trustpilot as the highest rated service in the sector and has all the drive and the skills to deliver on their vision.
“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.”
Sarah Bolt 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.”