Clair Labs has raised $9 million in seed funding to support the continued development of its contact-free technology for use in hospitals and home health care settings. A $9 million seed round of funding has been raised by Clair Labs, a company that provides remote patient monitor.
Adi Berenson and Ran Margolin became acquainted during their time at Apple, owing to the fact that they were both members of the company's product incubation group during their time there. Finally, the two of them formed their own corporation to carry on their business ventures. patient monitor was only after much deliberation that they came to the conclusion that they would start their own business in Israel the following year.
Increasing numbers of high-acuity patients are being admitted into hospitals, which has resulted in the establishment of Clair Laboratories. This is due to an aging population as well as a push by hospitals to discharge low-acuity patients to their own homes. Medical devices would be more appealing to patients if they were easier to use, according to the duo, who combined their knowledge of consumer technology from their time at Apple with their knowledge of health care.
Clair Labs is using the information obtained from this source in the development of medical devices and systems that will be used in the field of healthcare.
We believe that identifying existing workflows and then deploying our technology patient monitor is the most effective approach for providing the most effective patient care. The company will initially focus its efforts on sleep medicine, specifically on sleep apnea, and other related areas, including acute and post-acute care facilities, among other things.
Besides changes in the patient's position, such as an intention to stand up, the system also tracks other behavioral markers, such as sleep patterns and distress that the patient has expressed an interest in observing. Also being used is the analysis and recommendation of health-care professionals based on the data that has been gathered by machine-learning algorithms.
According to the company, it is currently being tested in clinical trials in Israel, and if all goes according to plan, the company plans to launch pilot projects with sleep centers and hospitals in the United States in the near future.
In order to manage the company, which is currently in the pre-revenue stage of development, a small team of ten employees who also serve as patient monitors for the company's patients is assembled. The funds will be used to expand the company's research and development center in Tel Aviv and to prepare for the opening of a United States office the following year, which will be the company's first international expansion. As the headquarters for North American operations, the United States office will be primarily responsible for providing customer support in North America as well as overseeing marketing and sales efforts in that region of the world.
The company needed time to incubate, but with this new round of funding, they will be able to move beyond incubation and into prototyping, and then into the clinical trial phase. It appears that the trials are proceeding smoothly, and the system is performing exactly as it was intended to in each situation, regardless of the circumstances. Our goal is to complete clinical trials with a patient monitor in Israel before moving on to clinical trials in the United States, obtain FDA clearance, and begin selling our product before moving on to the next round of financing.
The fact that Clair Labs is entering a market with significant growth potential, according to Rotem Eldar, a management partner at 10D, has generated a great deal of interest in the company.
Recently, several remote patient monitoring system companies, including those listed below, have received venture capital funding.
Vector Remote Care, a provider of cardiac digital health services, has raised $12.5 million in a Series A round led by Updata Partners, according to the company's website. The round was led by Updata Partners.
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