Swiss health-tech startup Aktiia raised $17.5 million in a Series A funding round, according to a Tuesday (Nov. 2) report from UK Tech. Venture capital firm Draper Esprit led the funding round, which also received participation from 415 Capital, Redalpine Venture Partners, Verve Ventures and Translink Capital, according to the report.
Funds will be earmarked for hiring additional staff and expanding the blood pressure monitoring company in integral healthcare markets across Europe. The investment will also be used to secure FDA clearance to enable expansion to the U.S. market, per the report.
The company, which was founded in 2018, developed an automated 24/7 blood pressure monitoring system, according to its website. The wearable device collects data throughout the day similar to information collected during a blood pressure screening using a removable cuff, according to the company website. Users can retrieve a comprehensive summary using Aktiia’s companion app.
The wearable blood pressure monitoring device, which debuted this spring, is available in the U.K., Ireland, Germany, Austria, Switzerland, France and Italy, according to the report.
In addition to Aktiia users having access to their blood pressure readings at their fingertips, technology firms are increasing efforts to expand the healthcare sector with new cloud, artificial intelligence (AI) and data-driven solutions.
Google Cloud in September partnered with Mayo Clinic to store the clinic’s data and apply artificial intelligence (AI) and other cloud computing advances as part of a digital transformation.
Patient demand for connected services continues to increase, according to the PYMNTS study Connected Healthcare: What Consumers Want From Their Healthcare Customer Experiences. A collaborative effort with Rectangle Health, PYMNTS surveyed more than 2,000 consumers. Among the findings, “Patients who are willing to leave their current providers to access digital options identified tools that helped them save time, keep track of payments and interact securely with their healthcare providers as their top motivations for switching.”