Institutional investment to generate more growth at pioneering health-tech business

February 8, 2019
By

Innovative biometric tracking service Forth, which helps people navigate their way to better health using simply at-home finger-prick blood tests, has secured investment from its first institutional investor.

Forth, originally part of Bristol’s world-beating SETsquared technology accelerator, has received the funding from The Development Bank of Wales, together with a group of angels from Angels Invest Wales and South West-based angel investors, including Craig Gulliford, CEO of Chepstow-based Creo Medical.

However, following investment from the Development Bank of Wales, the company has now relocated to a new base in Chepstow. 

Craig 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.”

Forth is the brand name of Humankind Ventures, which was founded by Sarah Bolt and Christopher Baines. Both have extensive experience of working in the healthcare industry for over two decades.

The health-tech business operates two online services – Forth Life, focusing on wellbeing, and Forth Edge, which focuses on human performance and is the first and only service of its kind designed specifically for recreational and professional athletes.

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.”

Development Bank of Wales technology team senior investment executive Dr Richard Thompson 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.”

Forth aims to give people greater insight into their body’s internal health, by measuring key biomarkers for good health. 

Sarah said: “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.”

 

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