A HealthTech behind finger-prick blood test kits for the home has raised £1.6 million to launch products for the FemTech market.
Forth is set to capitalise on the growth in the female science and technology market with the raise from UK and overseas investors including Trajan Scientific and Medical, a global developer and manufacturer of analytical science instruments, devices and solutions headquartered in Australia.
Launched in 2016, Forth is one of the UK’s leading companies in personalised biomarker tracking. Starting with a small sample of blood, the company helps people to navigate their way to better health by providing clear scientific data about their body’s biochemistry, together with expert advice to help them improve.
It recently launched a ground-breaking product to help women gain better insight into their hormone fluctuations. Female Hormone Mapping is the first product in the world to use AI to help map how a woman’s hormones fluctuate throughout their entire cycle, rather than a single day which is current clinical practice.
The product is particularly useful for those who want the certainty of entering perimenopause, a time of life, where women are lacking sufficient support.
“Today, more and more people are realising that understanding and measuring your body’s biochemistry is key for a long and healthy life,” said CEO and co-founder Sarah Bolt.
“For women, in particular, gaining a 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.”
Forth reported revenue growth of over 100% in June 2020 compared to the previous year. The company was then awarded an innovation grant in September 2020 to develop the female hormone product.
“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,” continued Bolt.
Stephen Tomisich, CEO and MD at Trajan, stated: “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 focused on delivering impact and, working together, we believe we will do just that.”
The Development Bank of Wales has also supported the company’s 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. We‘re proud to be behind this great team and wish them every success.”