27 July 2017 - - US-based digital healthcare company Signature Medical, Inc., an Allied Minds (LSE: ALM) portfolio company, has completed a USD 2.5m series A funding round, including participation from Riot Ventures, Bose Corp., and Allied Minds, the company said.
Signature Medical is developing AcoustiCare, its flagship wearable product focused on heart failure evaluation and monitoring to improve patient outcomes while preventing hospital re-admissions.
It differs from other typical sensor-based wearables with its proprietary cloud-based audio technology and artificial intelligence enabling remote monitoring and evaluation of heart failure and other indications.
Proceeds from this financing will be used to accelerate the development and commercialization of the AcoustiCare system.
Signature Medical offers innovative solutions focused on value-based healthcare initially focused on heart failure. It is dedicated to improving outcomes while reducing costs in high-value, large underserved markets using proprietary cloud-based and wearable technology.
Riot is an early-stage venture fund that invests in emerging technologies such as artificial intelligence, internet of things, autonomous vehicles, robotics, and augmented and virtual reality. Riot is headquartered in Boston with offices in Los Angeles.
Bose Corp. invests in long-term research with one fundamental goal: to develop new technologies with real customer benefits. Bose innovations have spanned decades and industries, creating and transforming categories in audio and beyond.