Afon Technology Limited (“Afon Technology”) raises £600,000

The Board of Afon Technology is pleased to announce that it has raised £600,000 from a confidential investor to fund further miniaturisation of their medical device and take it into the manufacturing stage.

Afon Technology has the single focus of commercialising a wearable, non-invasive blood glucose monitor to benefit people with diabetes the world over.

Based on proven and patented technology, they have created a non-invasive, real-time and continuous glucose sensor that will empower people with diabetes in self-management and provide their clinicians with a history of their blood glucose variations.

The compact device is designed to be worn with a watchstrap and connected via Bluetooth to the user’s smart watch/device.

The device created gives individuals’ freedom from the constraints of conventional finger-stick devices.

Sabih Chaudhry, CEO of Afon Technology said, “We are delighted to have this confidential investor on board, as we pursue the development and clinical trials of the device. The technology is proving reliable and accurate in our initial trials, and we are excited by these results.”

Clive Hyman said, “We are glad to be working with Afon Technology, who are a leader in the next generation of wearable blood glucose monitoring devices. We have supported their investor through his decision process.”

All enquiries welcomed

Notes to Editors

Sabih Chaudhry, Afon Technology +44 (0)7880 548 838

Notes on Company Name –

Sabih Chaudhry is the Founder and CEO of Afon Technology Ltd., a start-up based in Chepstow, South Wales. He leads a world class team who are developing a wearable non-invasive blood glucose monitor. The technology is patented and has undergone a number of clinical trials at a diabetes test clinic in Germany and further testing at an NHS site in the UK. The technology is being designed to address both the diabetes and wearable markets, complying to all major global regulatory requirements.

Clive Hyman, Hyman Capital – +44 (0)7388 245 446

Notes on Hyman Capital –

Clive Hyman is the Founder, Chair and CEO of Hyman Capital. He is a serial Chairman, non-executive, CEO and CFO with cash management, operational and M&A experience. He established the firm in 2005.

Established in 2005, Hyman Capital is a nimble boutique providing merchant banking services, transaction services provider and business advisor.

Hyman Capital helps young, growing businesses to access new sources of funding and to properly prepare for any transactions they are planning to undertake – while also advising them on becoming more efficient and effective.

These activities clearly go hand in hand, as helping a business to grow and become more profitable – either organically or through acquisition – can only ever help it become a more attractive investment possibility.

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