snap40, an Edinburgh, Scotland-based provider of an AI-enabled wearable device that monitors patients in real-time to proactively identify illnesses, raised an $8 million seed funding.
The round awas led by ADV, with participation from MMC Ventures, Gordon Craig, co-founder of Craneware; Gareth Williams, founder of Skyscanner; and Qasar Younis, the former chief operating officer of Y Combinator and founder of TalkBin and existing investors Par Equity and the Scottish Investment Bank.
Led by Christopher McCann, CEO and co-founder, snap40 offers an automated picture of human health. Using a wearable device, the company monitors individuals during and after hospital admissions, as well as for chronic health conditions and in clinical trials. Using real-time data, the company’s proprietary algorithms identify those whose health is at risk and proactively bring healthcare to them.
Initially, snap40 is deploying this with healthcare providers in the U.K. and the U.S.
The company intends to use the funds to accelerate its expansion into the U.S., where it has an office in NYC and clinical trials and pilots with leading hospitals and institutions looking to identify acutely and chronically deteriorating patients earlier, in order to reduce risk and cost while improving patient health.
FinSMEs
26/07/2018