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Connell C - LB Mar 2022

Healthtech firm Forth raises £1.6m for female health

Image from Forth’s websire

Chepstow-based healthtech firm Forth has secured £1.6 million in funding to support the launch of its female health product.

The investment round attracted backing from a consortium of UK and overseas investors including Trajan Scientific and Medical, through its European subsidiary Trajan Scientific Europe. Headquartered in Melbourne, Australia, Trajan develops and manufactures analytical science instruments, devices and solutions.

The Development Bank of Wales also supported this second round of funding with follow-on equity of £250,000 bringing its total investment to date to £500,000.

Forth’s co-founder Sarah Bolt said: “Today, more and more people are realising that understanding and measuring your body’s biochemistry is key for a long and healthy life. For women in particular, gaining 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.”

Stephen Tomisich, chief executive and managing director of 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 focussed on delivering impact and working together we believe we will do just that.”

The Development Bank of Wales’ 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.”

Bolt added: “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. Trajan is a perfect partner as we share a focus on using science to advance preventative health while the Development Bank continues to support us as a Welsh-based company that is at the forefront of the femtech market.”

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