Foresight Secures £3 Million Investment for MyWay Digital Health
In the rapidly evolving landscape of digital healthcare, securing funding can be the game changer that propels innovative startups into the spotlight. Recently, Foresight Group, a prominent player in private equity and infrastructure investment, announced a substantial £3.0 million investment in MyWay Digital Health Ltd (MWDH), a trailblazer in digital health solutions particularly focusing on managing chronic conditions like diabetes. This strategic partnership is set to accelerate MWDH's product development and expand its global reach, making a significant impact on the healthcare sector.
Founded in 2017 as a spin-out from the University of Dundee, MWDH is dedicated to enhancing the lives of individuals living with long-term health conditions through innovative, data-driven solutions.
The company currently employs 30 staff across key UK cities, including Dundee, Edinburgh, and London. With a mission to offer cost-effective, personalized health technology, MWDH's flagship product, MyWay Diabetes, serves as a clinically validated digital self-management tool. By integrating with NHS systems, it delivers personalized education, data visualization, and actionable insights, all of which contribute to improved patient engagement and health outcomes across multiple NHS regions and beyond.
According to Debbie Wake, CEO and Co-Founder of MWDH, “We are delighted to have secured investment from Foresight, marking a significant milestone in MWDH’s journey." The funding will enable the company to accelerate its growth strategy, broaden its product portfolio, and enhance its global footprint at a time when the demand for scalable digital health solutions is surging. With the addition of Dr. Umang Patel as Non-Executive Chair, who brings invaluable experience from the technology and healthcare sectors, MWDH is poised to drive innovative developments, including AI-enabled products and personalized care pathways, to meet the evolving needs of the market.
Key Terms Explained
- Securing funding
- The process of gathering financial support for a startup's launching, growth, or expansion. This can be obtained from various sources like banks, private equity firms, venture capitalists or angel investors.
- Private equity
- Private equity is a type of investment consisting of capital that is not listed on a public exchange. Private equity is composed of funds and investors that directly invest in private companies or conduct buyouts of public companies, resulting in the delisting of public equity.
- Product development
- The process of creating, designing and marketing new products or services to benefit customers. Often includes considerable research and development.
Frequently Asked Questions
- Who provided the recent funding for MyWay Digital Health Ltd?-The recent funding for MyWay Digital Health Ltd was provided by Foresight Group.
- What amount of investment did MyWay Digital Health receive?+
- What is the primary focus of MyWay Digital Health's digital solutions?+
- What is the purpose of the funding secured by MyWay Digital Health Ltd?+
- What outcomes result from the integration of MyWay Diabetes with NHS systems?+
They've invested in MyWay Digital Health
Get to know these Healthtech investors
Click here for a full list of 7,526+ startup investors in the UK