Medtech Firm Kaydiar Secures £1.2 Million Investment from Development Bank of Wales and Women Angels of Wales

Kaydiar, a pioneering medtech company based in Wales, has secured £1.2 million in funding to revolutionize footcare products using innovative technologies. This investment round includes backing from the Development Bank of Wales, Women Angels of Wales (WAW), the Welsh Government, University of Wales Trinity St David, and Innovate UK.

Founded in 2018 as a Cardiff Metropolitan University spin-out, Kaydiar focuses on advanced footcare solutions aimed at relieving pressure-induced sores. Its flagship products, DiaSole and ZeroSole, target diabetic foot ulcers and pressure-related corns or calluses, utilizing customizable hexagonal mesh frames that adapt to patients’ needs.

Investment Breakdown

The latest £1.2 million investment includes:

• £200,000 from the Development Bank of Wales
• £210,000 from WAW and the Angel Co-Investment Fund
• £100,000 from the University of Wales Trinity St David
• £450,000 from an Innovate UK smart grant
• £200,000 from the Welsh Government

Kaydiar plans to launch a revolutionary new technology called PROMorph, a composite material designed to disrupt the podiatry and orthotics industry, aiding patients recovering from injury through casts, braces, and other orthotics.

Investor Reactions

Carol Hall, Investment Manager for Angels Invest Wales, expressed her enthusiasm for Kaydiar’s innovations:

“Kaydiar’s products will be hugely beneficial for those suffering from foot pressure sores, showing the potential of Welsh medtech companies.”

Sharon Pipe of Women Angels of Wales highlighted the importance of this funding:

“Our support for Kaydiar exemplifies the power of combining grant, angel, and institutional funding to help innovative early-stage Welsh businesses thrive.”

Kaydiar’s Response

David Barton, co-founder of Kaydiar, remarked on the significance of the investment:

“Heather and I are thrilled to receive this support as we launch ZeroSole online and in major retailers, while continuing to develop disruptive offloading technology.”

This funding marks a pivotal moment for Kaydiar as it aims to scale its operations and continue its mission of improving patient outcomes in the footcare sector.

For more information on Women Angels of Wales, visit www.womenangelsofwales.com.