Firm to take hearing loss tech to market
Edinburgh-based Hearing Diagnostics is targeting commercialisation in the domestic and US markets after securing a £1.1 million funding injection.
Bosses believe that the funding, which is being led by capital-based investment syndicate Archangels, will unlock the market potential of the hearing screening firm’s technology. Other funders in the latest raise include Scottish Enterprise through its Scottish Co-investment Fund.
Hearing Diagnostics’ technology makes testing for hearing loss easy and reliable while being accessible outwith a clinical environment. The firm currently employs five people and intends to expand the team through the latest investment round. Established by Claudia Freigang (chief executive) and Colin Horne (chief technology officer), the company has used previous funding from Archangels to develop its Audimetroid screening technology and is now ready to take the product to market.
Freigang, a winner at the Women’s Enterprise Scotland Awards 2022, said: “Our mission is to make reliable hearing testing accessible outside of specialist clinics to drive the early diagnosis of hearing loss and to ensure positive patient outcomes.”
Niki Mckenzie, joint managing director at Archangels, said: “Claudia and Colin have built a truly groundbreaking and disruptive technological platform to tackle a global health issue. We understood the potential commercial opportunity early in the development phase and we’re pleased to continue our support into the next chapter of Hearing Diagnostics.”