Triple Point has announced nearly GBP1 million of funding to back the two latest companies in the firm’s Impact EIS Investment Fund.
The fund targets fast-growing companies in the health, environment, youth and inequality sectors that are having a positive social impact, and are expected to generate significant capital growth.
The Impact EIS fund has invested GBP525,000 in GripAble, a company that has developed a digital hand grip to help rehabilitation for people living with a range of upper limb impairments, and GBP400,000 in We Are Digital (WaD), a digital and financial training provider, targeting the estimated 3 million people in the UK who lack digital skills to access services online.
GripAble’s technology uses hardware, data and bespoke video games for the assessment and training of people living with movement impairment such as stroke, arthritis, cerebral palsy and trauma. The handgrip captures data that allows more accurate monitoring for therapists compared to traditional rehab materials such as medical dynamometers, silicone balls and putty.
We are Digital is a digital and financial training provider with a network of more than 100 tutors providing direct person-to-person digital and financial training.
WaD has customers in three main areas – housing associations, Government departments and banks. Central Government is WaD’s major growth driver of growth as Gov.uk, a digital transformation project to bring all central Government online, requires all departments to provide training for digitally vulnerable customers. It already has contracts to provide support for digital visa applications, the EU settlement scheme and the Courts and Tribunal Service.
The investments will be Triple Point’s third and fourth deployment of capital into the Impact EIS Fund, bringing it to a total of GBP1.7 million.
Belinda Thomas, Partner at Triple Point, says: “Since the fund’s launch we have been lucky to work with some of the UK’s most innovative companies and talented entrepreneurs. Demand for impact investing continues to grow, and we are delighted to welcome both GripAble and We Are Digital. Both companies are well placed to make a positive difference to the lives of many people and offer attractive investment opportunities.”
