Aergo raises equity funding to pilot innovative posture support system
London, United Kingdom – Aergo, a company that has developed a responsive posture support system which empowers wheelchair users, announces that it has completed an equity funding round with the help of ClearlySo, Europe’s leading impact investment bank. The funding will go towards expanding the team and product manufacturing and piloting.
It has been reported that 70 million wheelchair users struggle to sit comfortably due to extensive hours of sitting according to the WHO (2003). This can lead to an array of conditions from lower back pain to pressure ulcers. With that in mind, Aergo has created a unique and adaptable postural support system, using a network of patent pending air cells to actively support individuals of all shapes and sizes. The product is mobile so can be moved from wheelchair to dining room or sitting chair to accommodate its user.
A globally increasing life expectancy has meant that we now have a growing elderly population. This, together with an increase of spinal injuries (source: Lucintel), is driving the wheelchair seating market to over $6bn by 2022. With more money being spent on specialist disability equipment, Aergo’s innovative new adaptive postural support system will reduce the cost of equipment spend in the wheelchair market, firstly for children (3-12 years) and eventually other users, generating savings to households and the NHS in the UK. Its first product, with its patent-pending air cells can adjust and adapt alongside its user, as they move and grow. More than that, it will avoid the development of further health consequences that can be caused from incorrect posture, such as organ compression, respiratory diseases and pressure ulcers.
Hsin Hua (Sheana) Yu, founder and CEO of Aergo, commented: “It’s great working with a network of investors that truly value impact and are very hands-on in supporting the companies/founders they back. With the funding raised with the support of ClearlySo, we are able to deliver production units to our early adopters and begin to deliver the health impact we set out to achieve.”
Stefano Cappanari, investment manager at ClearlySo, commented: “It was fantastic to support Aergo in its capital raising. The company is addressing an often overlooked issue with a very ‘patient-centric approach’, which was praised by our investors.”
Notes to the Editors
Aergo is a responsive posture support system that empowers young wheelchair users. Its network of air cells is designed to adjust automatically when you move, giving you greater comfort and independence to do what you love.
ClearlySo is the Europe’s leading impact investment bank, working exclusively with enterprises and funds delivering positive social, ethical, and/or environmental impact as well as financial return.
Originally founded in 2008, ClearlySo has helped more than 140 clients raise more than £250 million in impact investment from its extensive network of high-net-worth individual and institutional investors.
ClearlySo is headquartered in London.
Hsin (Sheana) Hua Yu
Founder and CMO
Chief Marketing Officer