Cwmbran-based Amotio has completed a pre-seed funding round of £810,000, led by a £500,000 equity investment from the Development Bank of Wales.
The funding will be used to advance technology that will support better post-operative care and recovery times for joint-surgery patients throughout the global healthcare market.
Using methods pioneered by a team of surgeons and biomechanical engineers in Utrecht, medtech business Amotio has developed a new medical device to remove surgical cement during hip operations. The Development Bank’s investment includes £350,000 from the Technology Seed Fund and £150,000 from the Wales Flexible Investment Fund.
The Development Bank was joined by specialist co-investors NLC Health Ventures with £210,000, and £100,000 from charity Orthopaedic Research UK (ORUK). ORUK’s investment committee includes some of the country’s leading orthopaedic clinicians.
Patients undergoing joint surgery may need to have follow-on treatment, with an earlier prosthesis being replaced. To remove the older prosthesis, surgeons currently have to remove the surgical cement which holds it in place – a lengthy and often complex process. This is followed by periods of rehabilitation of up to 12 to 15 weeks before a patient’s joint becomes weight-bearing again.
Amotio’s prototype technology uses 3D-printing to create a state of the art, high precision surgical cutting device and guide technology, tailored to an individual’s joint. It can then be placed accurately in the joint, allowing for the safe and efficient removal of surgical cement, and lessening the risk of further damage.
The £500,000 equity investment will support Amotio with developing Amotio’s product research and development leading to pre-clinical testing and regulatory approval. Further investment as part of the latest round also came from NLC fund finance, ORUK, Angel Investors, the Innovate UK Smart Grant and SMART Flexible Innovation Support via Business Wales.
The product has applications for hip operations, but Amotio hope it will soon be applicable to all major joint surgeries, with the business aiming to target medical markets in the US, Europe and Asia-Pacific.
Iestyn Foster, CEO of Amotio, was brought on in 2024 to help the business take its product from concept to commercialisation.
He said:
“It can be extremely difficult as a medtech start-up to attract initial early stage investment, but we found the Development Bank of Wales was a great fit for us. They understood our needs as a business and the impact our product could make, along with our ambitions for future growth.
“Importantly, the investment by the Development Bank has enabled us to attract funding from NLC Health Ventures and ORUK as specialist venture capital funders. We have the advantage of being part of a strong medtech cluster in South Wales, where we’ve been able to tap into the wider ecosystem. This coupled with the backing of our funding partners means that we now have an excellent platform to deliver on our growth strategy.”
Dr Harry George, Assistant Investment Executive in the Technology Ventures Investment team at the Development Bank of Wales, said:
“Amotio’s technology has huge potential in orthopaedic treatment, cutting recovery times and improving surgeries for those in need of repeat joint operations. That they’re targeting wider applications and global markets is evidence of their confidence in their technology, and we look forward to seeing the product make the next round of evaluation and testing.
He added:
“Attracting private sector funding into Wales is a key tool for unlocking ambition and driving long-term sustainable growth, which is why we work hard to identify and nurture co-investment alongside specialist funders like NLC Health Ventures and ORUK.”
Kim High, Venture Partner and Lead of NLC’s OrthoSpine Business Unit and Margarida Lopes, Investment Associate at NLC Health Ventures said:
“This is exactly the type of healthcare innovation we aim to support through NLC’s Health Impact Fund.
“With roots in the Netherlands and Wales, this venture reflects the strength of Europe’s growing medtech ecosystem. We’re proud to partner with the Development Bank of Wales to help bring this technology to patients worldwide because we believe it is positioned for real impact.
“Indeed, the success of ventures like Amotio is driven by the alignment of clinical expertise, entrepreneurial vision, and strategic partnerships — and this project reflects exactly that.”
The Wales Technology Seed Fund provides equity investment from £50,000 to £350,000 to Welsh tech businesses at proof of concept stage.
For more information, visit www.developmentbank.wales
