Singapore-based Aevice Health has secured $7 million in an expanded seed funding round led by Cedars-Sinai’s Singapore venture arm, Coronet Ventures.
Existing investors including East Ventures, A&D Company, NTUitive, Farquhar Venture Capital and Silicon Solution Venture also participated in the round. SEEDS Capital, the investment arm of Enterprise Singapore, also participated in the round.
The Nanyang Technological University spin-off startup offers a technology platform for managing chronic respiratory diseases, featuring a smart wearable stethoscope; AeviceMD, approved in Singapore and the US.
What is it for?
The company said in a statement that the new funding will be used to further expand and strengthen product development in its key markets of Singapore, Japan and the U.S. Recently, the startup joined the Cedars-Sinai Accelerator program to learn how to navigate the U.S. clinical, regulatory and reimbursement systems, which will help it scale its operations in the U.S.
Aevice Health has consistently attracted investor funding to roll out its wearable respiratory monitors around the world.The company has raised $2 million over the past three years, most recently in May with $1 million from A&D Co. Last year it received an undisclosed investment from East Ventures and three years ago it raised $2 million in pre-Series A funding.
Earlier this year, Aevice Health It is working with London-based Jiva.ai to develop AI to predict asthma exacerbations.
