Biovotion closes CHF 13 million financing round
Biovotion successfully completed a Series A financing round, bringing in CHF 13 million. The oversubscribed round was led by the Zurich-based reinsurance company Swis Re. Additional investors include the Hong-Kong based investment company Harmony Medical Inc., an institutional investor from the UK, and the venture capital arm of a major global consumer organisation.
The Zurich-based medical device company has developed an armband that continuously measures important data related to health conditions. Worn on the upper arm, it monitors heart rate, oxygen levels in the blood, breathing rate and how blood is pumping through the body.
The measurement data are transmitted to a cloud, allowing doctors to make diagnoses. According to Biovotion, the armband could be used to help monitor a patient’s health data after they leave hospital, making it easier to determine additional therapies. CEO Andreas Caduff once described the armband as a “little hospital on the upper arm”.
Biovotion is currently preparing to launch a machine learning-based digital health platform capable of evaluating the data measured by the armband. With this approach, Biovotion is driving the decentralisation of the healthcare sector and empowering patients to better understand the state of their health.