Contact-free monitoring company EarlySense Ltd has completed a $20 million financing round, led by Samsung Ventures with an investment of $10 million. Existing investors whose participation was also substantial include Pitango Venture Capital, Welch Allyn, JK&B, Proseed, and Noaber.
EarlySense’s solutions monitor heart and respiratory rate, as well as movement and sleep. It also offers OEM solutions for companies looking to expand their products by providing contact-free and continuous sensing capabilities. The company’s international headquarters are in Israel. The US headquarters are in Waltham, Mass. The EarlySense System is currently installed in hospitals, rehabilitation centers, and homes in the United States, Europe, Asia, and Australia.
“We invest in companies that are paving the way for their respective industries. EarlySense has developed and brought to market a unique, breakthrough technology that will improve the lives of consumers through health parameter sensing and monitoring. This technology, based on algorithms, analytics, and smart Health/IT capabilities, has been commercialized in the professional healthcare market over the past few years. This has built powerful clinical and market validation. Our investment is evidence of our belief in the need to bring sensors to hundreds of millions of consumers and we will do all that is in our hands to contribute to EarlySense’s accelerated growth,” says Gonzalo Martinez de Azagra, head of Samsung Ventures Israel, in a release.
Avner Halperin, CEO of EarlySense, says, “We are happy to have Samsung join our vision of bringing smart sensors to health and wellness at homes, hospitals, and long term care. As a global leader in consumer products, Samsung can increase our reach to homes and will facilitate accelerated growth in that market. We are also honored by the vote of confidence from our existing investors, including Welch Allyn and the ongoing partnership we share together. We have made great progress to date and look forward to our continued growth and introduction of our innovative technology into additional market areas, in an effort to save lives and improve quality of life.”