Welsh start-up Signum Health has secured a further £400,000 in an equity co-investment led by the Development Bank of Wales, with further investment obtained from private investors.

This is the second round of investment the company has raised and brings the total funding for the Caerphilly-based firm to £600,000.

Signum Health has also appointed the former CEO of Imperial College NHS Trust and founder of the first Academic Health Science Centre in the UK, Professor Stephen Smith as its chairman.

Signum Health’s CEO Victoria Norman said: “This latest round of investment will help us to take Signum Health to the next stage of its development. We are already helping GPs surgeries around the UK and we can’t wait to see Signum Health used in every surgery in the country.

“Having someone with the experience of Prof Smith coming on board as chairman is further validation that Signum Health is innovating in this field and is a much-needed service for the NHS."

Dr Philip Barnes, technology ventures investment executive of Development Bank Wales, said: “Signum Health has a highly talented management team with exciting plans for scaling their innovative digital health business across multiple sectors. We’re pleased to continue backing this high-growth company in their second equity funding round.”

Launched in 2016, Signum Health uses artificial intelligence and cloud-based technology to deliver remote health care and support within local communities.