Israeli patient-monitoring technology startup Neteera Technologies (Neteera) has raised approximately $13m in a Series B funding round.
Healthcare investment company Aescuvest led the financing round, with participation from existing and new investors such as Omega Healthcare Investors (Omega), Ankor, Nanz Family Office and Esas Private Equity.
Proceeds from the funding round will be used to accelerate sales, production and deployment of Neteera’s contactless patient monitoring solution. The company will also focus on further development of its medical sensing platform.
The remote patient-monitoring solution enables contactless, continuous monitoring of patients’ biomarkers in real-time, streamlining patient monitoring.
Omega Healthcare Investors corporate strategy senior vice-president Matthew Gourmand said: “We are excited to partner with Neteera. We deployed their technology across a test group of facilities and received positive feedback from the operators, highlighting a reduction in hospitalisations and early recognition of changes in resident clinical needs.
“We believe this technology has the capacity to help caregivers as they seek to provide high levels of care and comfort for their residents.”
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Furthermore, Neteera signed a strategic partnership agreement with Omega to offer its technology to Omega’s healthcare operating partners.
Neteera CEO Isaac Litman said: “We are thrilled to partner with Aescuvest and Omega as we continue to develop and scale our game-changing solution.
“With this funding and with Omega’s strategic partnership, we will be able to expand our reach and accelerate our mission to improve patient outcomes while reducing the burden on clinical staff.”
In September last year, Neteera received the 510(k) Class II clearance from the US Food and Drug Administration for its contactless cardio-pulmonary-monitoring platform.
The company is focused on bringing its technology to more patients.
Its continuous, contactless and passive solution can be used to monitor vital signs and biodata in a clinical or home-based setting.
Equipped with a high-resolution radar on a chip sensor, the sensing platform monitors the physiological parameters without the need for removal of clothing, device manipulation and caregiver presence.