Venture Capital News: DynoSense Announces $9.4M Series A Round
SUNNYVALE, CA, Digital health innovator DynoSense has announced that it has closed a $9.4 million Series A funding round.
The round included participation from WI Harper Group; JKOM Cloud Health Technology Co; Plug and Play Tech Center; Jinmao Capital; and Wilson, Sonsini, Goodrich and Rosati. The company will use the proceeds to support U.S. regulatory clearance and commercialization of its patented Dyno, the world's first fully integrated multi-function health scanner technology that can capture more than 33 critical health metrics in less than 60 seconds with a single user action. The captured health data is securely and wirelessly uploaded to the company's cloud computing platform for further analytics and processing, and is then communicated with healthcare professionals.
'Our mission is to be at the forefront of the digital healthcare revolution, a market anticipated to reach more than $26 billion by 2020,' said Saeed Azimi, chief executive officer of DynoSense. 'With the Dyno, we are marking a new paradigm in how patients can be remotely monitored for physiological changes. We believe this will open up a whole new era of disease prevention that will enhance delivery of care, resulting in leapfrog improvements in efficiency, health outcomes and cost reduction.'
The Dyno is uniquely positioned to address the digital health market, which spans managed elderly care, chronic disease care, hospital discharge care, consumer health and telemedicine. The device is elegant and medical-grade quality, with an intelligent user interface that ensures both ease of use and accuracy. The Dyno is currently optimized to capture all five fundamental vital signs as well as other key health metrics, including:
-Electrocardiogram (ECG), for all heart parameters and heart related irregularities
-Photoplethysmography, for extracting blood oxygen (SPO2)
-Pulmonary plethysmography, for extracting respiration rate, breathing volume and breathing efficiency (CO vs. oxygen)
-Blood pressure changes
-Core body temperature, and others
'The Dyno is indicative of the cutting-edge digital health products that are being developed and brought to market by the experienced team at DynoSense,' said Paul Chau, managing director, WI Harper Group and a member of the DynoSense board of directors. 'We believe the company has an extraordinary opportunity to help drive the innovative and disruptive digital trends that are shaping the future of the healthcare industry.'
DynoSense is working toward a submission to the U.S. Food and Drug Administration for 510(k) clearance of its Dyno technology.
About WI Harper Group
Founded in 1993, WI Harper Group is one of the founding venture capital franchises. The firm pioneered the investment strategy of creating a value-added bridge between the United States and Greater China and has invested in leading technology and healthcare companies with aspirations to become global leaders. WI Harper Group is an active partner with a track record of over 300 investments in technology, and it manages more than $700 million in committed capital from offices in San Francisco, Beijing, and Taipei. For more information, please visit www.wiharper.com.
About JKOM Cloud Health Technology Co. Ltd
JKOM is a leading provider of health services in the Republic of China, located in the city of Nanjing. The company provides a variety of online and offline health services covering health assessment, links to hospitals, wellness services, referrals, online appointments and more. JKOM now has health services covering many cities in China. For more information, please visit www.99jkom.com.
About Plug and Play Tech Center
Plug and Play Tech Center is a global accelerator and investor that specializes in growing tech startups. Headquartered in Sunnyvale, Calif., Plug and Play's network includes more than 300 tech startups, 180 investors and a community of leading universities and corporate partners. For more information, please visit www.plugandplaytechcenter.com
About Jinmao Capital
Founded in Jinmao Capital (JOLMO CAPITAL) in 2004 and headquartered in Nanjing, Jiangsu Province in China is a diversified investment firm with solid investment income, the company targets the development and nurturing of new industries. Jinmao Capital helps assist enterprises with rapid growth primarily through venture capital and in collaboration with other financial instruments. For more information, please visit www.jolmo.net.
About Wilson Sonsini Goodrich & Rosati
For more than 50 years, Wilson Sonsini Goodrich & Rosati has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. For more information, please visit www.wsgr.com.
About DynoSense Corp.
Based in Sunnyvale, Calif., DynoSense Corp. is a digital health innovator founded in 2013. The company's vision is to be the dominant force behind the digital healthcare revolution. Its mission is to deliver breakthrough products and services for a better life that are integrated, accurate, secure and simple to use. For more information on DynoSense and its products, please visit www.dynosense.com.
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