Company is developing a device to identify diabetic foot ulcers early and prevent amputations
The investment from Enterprise Ireland is part of the agency’s new strategy to engage in more late-stage investments, designed to attract more capital by enabling larger funding rounds and bringing in more investors.
Chris Murphy, co-founder and chief executive of Bluedrop, said the €1m investment would help support the company’s growth in the US and add to its business in Ireland.
The funds will support both revenue growth in the USA and the building of operational and R&D capacity in Ireland. Photo: Stock image/Getty
“For Bluedrop Medical, the funds will allow us to deliver our game-changing remote-monitoring system to more patients at risk of diabetic foot ulcers,” he said. The funds will support both revenue growth in the USA and the building of operational and R&D capacity in Ireland over 2026 and beyond.
“Bluedrop Medical are delighted to have the continued support from Enterprise Ireland at this exciting later stage in the company’s journey.”
Bluedrop, founded by Murphy and Simon Kiersey in 2015, is developing a device to identify diabetic foot ulcers early and prevent amputations.
In 2024, The Currency reported that Bluedrop was planning to raise up to €20m in further funding. Stock image/Getty
The company’s remote patient-monitoring system is similar to a bathroom scale. It captures high-definition images of a patient’s feet and analyses these using artificial intelligence software. Experts also review the data.
Bluedrop has successfully raised investment from several backers in the past.
In 2023, Atlantic Bridge and Elkstone co-led a funding round worth €10.5m to help further the development of Bluedrop’s remote patient-monitoring system.
The 2023 investment brought the company’s total raised to €16m, with other backers including the European Innovation Council Fund, Furthr VC, Western Development Commission, Ascentifi, and HBAN’s MedTech and Irrus Investments syndicates.
12,608 jobs were created in 2025 across companies backed by Enterprise Ireland
In 2024, The Currency reported that Bluedrop was planning to raise up to €20m in further funding, targeting US investors to support its next trial and get its device into customers’ hands.
Last week, Enterprise Ireland outlined its new investment strategy as it released its end-of-year results.
The report showed 12,608 jobs were created across companies backed by the agency, which is responsible for developing Irish business globally.
Enterprise Ireland directly invested almost €50m in equity in Irish companies, leveraging a total of €440m in 2025. Individual investments ranged from €100,000 to €2m, reflecting the new investment strategy.
In December, it invested $1m (€830,000) in sports tech firm Orecco’s $4m funding round as part of this plan.
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