Neteera Technologies – an Israel-based company disrupting the contactless patient monitoring market – recently announced the successful closing of about $6.7 million Series B extension. This funding round was led by Aescuvest, a renowned healthcare investment firm, and Foxconn Technology, an associate of Hon Hai Precision Industry – the largest electronics manufacturer globally.
This funding round will expedite production, meet the increasing demand for Neteera’s platform, and recruit more installation and deployment personnel. And this significant step will enable Neteera further to solidify its leadership in the contactless patient monitoring market.
Partnering with Foxconn Technology Group – the world’s leading company and powerhouse in the electronics manufacturing market – will further boost Neteera’s international growth. And a cooperation to produce Neteera’s products is already underway, with further business and technology collaborations in the pipeline.
In the face of challenging market conditions and VC funding slowdowns, Neteera has persevered and thrived. And the startup’s big pull is its proven product-market fit for a globally applicable problem, coupled with essential regulatory approvals like the FDA stamp.
Launched in 2015, Neteera quickly gained recognition for its FDA-cleared remote patient monitoring platform, designed to continuously monitor patients’ biomarkers without contact or patient involvement. And the platform is improving patient care and operator efficiencies all over the globe.
Outside of raising money, Neteera has been working on expanding access to the contactless patient monitoring platform. This year, the company began selling its solution to many long-term care facilities in the US and has a significant pipeline of ordered products currently being deployed.
KEY QUOTES:
“Neteera is an excellent medical equipment development company. We are delighted to participate in Neteera’s current round of funding and to become their manufacturing partner, providing strong support for the mass production of their products.”
— William Hung, Chief Investment Officer at FTC
“Neteera successfully tackles a problem that we are all prone to. Our ageing populations deserve professional, humane care. Technological solutions such as Neteera’s platform are a suitable answer to combat the problems of our healthcare systems.”
— Sebastian Gührs, Partner & Head of Investment at Aescuvest
“We are proud to partner with such a renowned company as Foxconn to further expand our offering. This funding and cooperation will expedite our solution production and deployment, opening doors and allowing us to get one step closer to achieving our mission: saving life, improving patient care while reducing the burden on clinical staff.”
— Isaac Litman, CEO of Neteera
