Development Bank of Wales backs Forth
A healthcare technology start-up has received backing from a group of South West and Wales-based investors, including the chief executive of listed medical device manufacturer Creo Medical.
Forth, which is to relocate from Bristol to Chepstow following the investment, helps people to navigate their way to better health using at-home finger-prick blood tests.
The investment comes from The Development Bank of Wales, together with a group of angels from Angels Invest Wales and South West-based angel investors
Gulliford, who was an early investor in the company during its first raise on Crowdcube in 2017 and has since joined the board, said: “I have an affinity for technology-based companies that have an innovative and disruptive proposition backed by great people. Forth ticks this box and the management team crucially also have the energy, passion, determination to succeed at all costs.”
The health-tech business operates two online services Forth Life, focusing on wellbeing, and Forth Edge, which focuses on human performance and is thought to be the first and only service of its kind designed for recreational and professional athletes.
Chief executive and co-founder, Sarah Bolt, said: “We are delighted to secure Development Bank of Wales as an investor. This investment will be used to develop our technology platform and recruit more customers to our service.
“I’m also originally from Cardiff so it’s great to secure investment in my home country, away from the traditional London centric investment community.
“We’re bombarded with information about how to improve our health on a daily basis, yet we know very little about the state of our internal health, what works best for our individual biochemistry or if indeed our actions are helping at all to improve our wellbeing.”
Dr Richard Thompson, senior investment executive in the Development Bank of Wales technology team, added: “Following on from the incredible success of Creo Medical, it’s great to have attracted another exciting business to Wales and to co-invest again with some of the angels who backed Creo from the beginning.
“Sarah has built a great business that easily enables people to optimise their own health. We’re delighted to welcome the business to their new offices in Chepstow.”