MoveSole launched a crowdfunding campaign

MoveSole smart insole measures the gait of a patient

MoveSole Ltd, a company developing smart insoles based on a sensor technology, launches a new product solution, which enables health care professionals to analyse patient’s gait both at the clinic and outside in the everyday environment of the patient. The company started to issue shares via the investment service Invesdor and materials related to the share issue and share subscription can be found: https://www.invesdor.com/fi/pitches/880

About 10% of the Finnish population suffers from diabetes. It is estimated that globally the number of diabetics is over 640 million by 2040. The feet ulcers caused by diabetes are the most treatment and clinical care demanding additional disorder caused by diabetes. If the ulcers are left untreated, there can be serious consequences as the ulcers increases the risk of lower leg amputations for more than 15 times when compared to people without diabetics.

A key treatment for foot ulcers is to offload so that the sole pressure is lightened and directed away from the ulcer spot. Until today, the care and monitoring have been based on an estimation by the healthcare professional and the feedback by the patient.

“ The healthcare professionals have been wishing for reliable tools for measuring gait and not only to support diabetic foot care but also for lower leg rehabilitation”, states the chairman of the MoveSole Ltd board, Mika Määttänen. He has a very long and versatile experience on the rehabilitation expertise.

After three years of product development MoveSole is about to have their product launch for the smart insole during the second quarter of 2018. This smart insole is designed to be used at the clinics of health care professionals as well as outside the clinics under professional monitoring. The primary use cases for these smart insoles are the treatment of diabetic foot ulcers and rehabilitation of lower leg injuries.

The CEO of MoveSole Ltd, Eero Kaikkonen told that the great number and severity of diabetic foot ulcers caught the team by surprise when they started the development. All alone in Europe about 8 million diabetics are in the risk of getting a foot ulcer and 50% of the ulcers renew. “We are launching a totally new sensor technology based solution, which enables real-time monitoring and laboratory level analysis of the patient’s gait”, Kaikkonen sums up.

“ The MoveSole smart insole has been develop in close cooperation with orthopedics and foot therapists. A central aim has been to develop a solution that enables gait monitoring also outside the clinics to see how people walk in a regular environment. Another aim was to develop something truly easy to use. The health care professionals much rather concentrate on the actual patient work than trying to figure our complicated technical structures. Based on the feedback so far, both aims have been reached in an excellent manner”

With the current share issue MoveSole seeks the get 100 000 – 300 000 euros of funding. The company plans to invest the funds to the production of MoveSole smart insoles, acquiring the medical device approval and market launch. 

Contact information

Euro Kaikkonen, CEO, MoveSole Ltd.
eero.kaikkonen@movesole.com , tel. +358 400 688 263

Mikko Savolainen, communications manager, Invesdor Ltd
mikko.savolainen@invesdor.com , tel. +358 40 747 5205

 

MoveSole in brief

MoveSole develops and sells health care professionals sensor technology based gait analysis smart insoles and the mobile application that uses collected data to produce visual or numeric reports to support patient care. More information: www.movesole.com

Invesdor in brief
A financial technology (fintech) company founded in Finland in 2012, Invesdor operates an online investment platform that connects ambitious European growth companies with investors worldwide. Invesdor has helped raise more than 40 million euros for more than a hundred businesses. Invesdor’s clients include private and publicly traded companies from Finland, the UK, Sweden, Norway and Denmark as well as investors from more than 70 countries. Invesdor has offices in Helsinki and London. More information at https://www.invesdor.com

 

Funding from

Printocent | VTT, Kaitoväylä 1, 90571 Oulu, Finland

© Printocent | VTT 2017