Wavely Diagnostics, Inc., a Seattle, WA-based digital diagnostics company developing smartphone-based apps to bring accurate, data-driven virtual pediatric care into every U.S. household, raised $1.35M in funding.
The round, which brought total investor and grant funding to $6.35M, was led by Robin Hood Ventures with follow-on investment from WRF Capital, Ambit Health Ventures, the WXR Fund, Wealthing, HealthTech Capital, and Princeton Alumni Angels.
The company intends to use the funds to advance its digital diagnostics platform for enabling virtual ear infection care for children.
Led by Arna Ionescu Stoll, CEO, Wavely Diagnostics provides a diagnostic app that turns a smartphone into an acoustic tool that can quickly and easily detect fluid in a child’s ear, the leading indication of ear infections. The process is non-invasive, painless, and provides parents and providers with answers to direct treatment options from home, often sparing a trip to urgent care or the emergency room. The smartphone platform is currently being used in a phase II pilot with a leading U.S. health system after completing a successful phase I pilot.
This funding announcement followed a $1.8MM Phase II Small Business Innovation Research (SBIR) grant award from the National Institute on Minority Health and Health Disparities in November of last year to leverage remote diagnostics to increase access to care and reduce health disparities in rural communities.
Founded as an academic spinout of University of Washington in 2018, the Seattle-based company rebranded as Wavely Diagnostics and received its first venture investment in 2021.
FinSMEs
12/07/2023