Nuubo, a Madrid, Spain-based wearable medical technologies company, raised €3m in funding.
Backers included Caixa Capital Risc, through its fund specialized in life sciences, Caixa Innvierte BioMed II, and CRB Inverbío, through its fund CRB Bio II, existing investor Fides Capital and new minority partners.
The company, which started its commercial activities in 2012, intends to use the funds to to position itself in the main European markets, where it expects to exceed one €1m in sales in 2014.
Nuubo has developed a system based on biomedical garments, which aims to simplify the typical procedures for heart monitoring, allowing the electrocardiogram (ECG) to be read continuously in dynamic environments in a non-invasive manner, with no need for cables, only wearing a piece of clothing.
Its platform, known as nECG DYNAMIC PLATFORM, allows users to perform and read an electrocardiogram remotely.
The company has 22 employs in Madrid and its production centre in Paterna (Valencia).