SINGAPORE:Aevice Health, a Singapore-based digital health firm, has raised $7 million in a seed plus round to grow into the US, Japan, and Singapore.
The business creates wearables that enable patients with respiratory issues to be remotely monitored. Additionally, it has created a platform that analyses patients’ heart rates, respiration rates, and wheezing in order to evaluate lung health. This platform includes the tiniest wearable smart stethoscope in the world.
In an announcement, the company stated that additional funding will be utilised to further product development and become its products “as ubiquitous as the thermometer for home management of chronic respiratory disease.”
Coronet Ventures, a venture capital division of Cedars-Sinai Intellectual Property with headquarters in Singapore, led the financing. Enterprise Singapore’s corporate investment arm, Seeds Capital, and East Ventures were among the other participants in the round.
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This comes after the business partnered with Japanese medical equipment manufacturer A&D and received approvals for AeviceMD, the smart wearable stethoscope, in the US and Singapore.
“They have an excellent team, and their established pathways into the US healthcare and distribution networks place them on the right track to grow the company fast,” Dr Nirdesh Gupta, chief executive officer of Coronet Ventures, said of Aevice Health.
The medical technology firm was established in 2018 and is a spin-off of Nanyang Technological University. The business raised S$2.8 million during its pre-Series A financing round in 2021.
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Aevice Health CEO Adrian Ang pointed out that while chronic respiratory disease continues to be a major cause of death, there aren’t many options that satisfy patient demands.
According to the World Health Organization’s website, chronic respiratory diseases claim the lives of almost four million people worldwide.
“Aevice Health has developed one of the first remote patient monitors designed for chronic respiratory disease patients available in the market,” Ang added.
About Aevice Health
Aevice Health Pte Ltd, a Nanyang Technological University MedTech spin-off, is pioneering chronic respiratory disease treatment. The company’s non-invasive wearable gadgets detect cardiopulmonary problems remotely and in real time, allowing patients to receive prompt, tailored care at home. Clinicians may simply track patient health and therapy reactions using the Aevice analytics platform.
