New capital for Sleepiz

Sleepiz AG looks set for further growth after securing fresh capital totaling 4.4 million Swiss francs. As the MedTech firm announced in a press release, it has now successfully closed a Series A financing round. Sleepiz was founded just over three years ago in the form of a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH).

The company has developed a small device that can be placed on a bedside table to monitor the vital signs of people suffering from chronic respiratory diseases including chronic obstructive pulmonary disease (COPD) or, more recently, COVID-19 in a contactless fashion. It works on the basis of millimeter wave technology, sensor fusion and Artificial Intelligence (AI). Data is then collected on the Sleepiz telemedicine platform, which helps caregivers and nurses, for example, to identify worsening conditions and react rapidly. In addition, the Sleepiz Telehealth Care team keeps an eye on patients around the clock.

“Sleepiz pursues a compelling vision of making vital sign monitoring touchless”, comments Steffen Wagner, Co-CEO of Verve Ventures, one of the lead investors in the financing round. He goes on to describe how this development can be regarded as a “paradigm shift in the industry” that “paves the way for a new future of healthcare”.

As the press release explains further, Sleepiz is now planning to expand its core markets and move into the rest of Europe and the USA. It has operated a branch in Pune, India, for two years already. The capital raised will also enable Sleepiz to attain a Class IIa medical device certification in accordance with the European Medical Device Regulation for its product development.