Galway Bay fm newsroom:
Galway based medical device start-up Bluedrop Medical is set to expand after securing €3.7m.
The company is based at the Innovation Hub at GMIT and is developing a product to help manage one of the complications of diabetes – the diabetic foot.
An initial seed investment of €1.2M was led by HBAN’s MedTech Syndicate – which itself invested €340K in the seed round.
Enterprise Ireland and the Western Development Commission also invested in the funding round along with other members of the investment community.
A €2.5M grant was also awarded through the European Innovation Council.
The firm is set to hire 10 people in the areas of software development, quality and regulatory affairs, clinical trial management and commercial strategy development.
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