Scanadu Nabs $10.5 Million in Series A Funding
The latest round of funding will be used to support Scanadu's go-to-market strategy and manufacturing and expand the company's roster of employees.Personalized health electronics company Scanadu announced it has received $10.5 million in Series A funding, with Relay Ventures leading the round of funding with participation from VegasTechFund, Ame Cloud Ventures and others. Other participating investors in the Series A round include Broe Group, Mindful Investors and Redmile Group. With this round, Scanadu has raised $14.7 million in funding to date. The latest round of funding will be used to support Scanadu's go-to-market strategy and manufacturing, continue its path to U.S. Food and Drug Administration approval and expand the company's roster of employees, a release noted. "We focus on backing ambitious entrepreneurs who are using mobile computing to unlock opportunity and create new markets," Kevin Talbot, co-founder and managing partner of Relay Ventures, said in a statement. "[Founder and CEO Walter De Brouwer]'s vision for the future of consumer healthcare is profound and Scanadu stands to make a lasting impact on an industry ripe for disruption."
Scanadu also announced plans to conduct its first clinical trials for Scanadu Scout—a vital sign monitor that analyzes, tracks and trends vital signs, including temperature, respiratory rate and blood pressure, in 10 seconds—at the Scripps Translational Science Institute (STSI). Those studies will be conducted as part of the Wired for Health mobile trial, which includes patients who live with diabetes, hypertension and heart arrhythmia. This first baseline study will help design future controlled studies, and will be designed to empower adults through a Scout to yield optimal blood pressure.