MedPal AI (MPAL ) has raised £498,225 through the issue of 7.5 million shares at an average price of 6.643p per share. The UK-based digital health and AI company announced the At-The-Market (ATM) equity issuance earlier this month.
Proceeds will provide additional working capital for its recently established online pharmaceutical subsidiary, MedPal Limited. The funds will also support higher stock levels, expanded product lines and marketing campaigns to grow MedPal Pharmacy and Medpal.clinic.
Last week, MedPal released a major upgrade to its MedPal AI wellness app on iOS and Android. The update adds advanced AI capabilities and coincides with the rollout of the app across UK gyms under its Epassi partnership.
The upgraded MedPal AI app, available via the iOS App Store and Google Play Store, introduces a unified AI assistant that can interact with users via text, voice, or image within a single chat interface. It now supports wellness, fitness, sleep, recovery and nutrition, alongside a redesigned dashboard with faster loading, updated health metric formulas and real-time data synchronisation, including six months of historical data import.
An enhanced journal feature allows users to upload documents and laboratory results for AI-powered analysis, while the update also introduces German language support. Users can store test results and documents directly in the app, creating portable health records that can be accessed wherever they are.