This week, French medical device start-up RDS announced additional funding from Capital Grand Est, helping the company reach €13 million in Seed capital.
The company is developing MultiSense, a patented Remote Patient Monitoring (RPM) solution. It provides healthcare professionals with a comprehensive, high-precision, multi-parameter solution for continuously monitoring patient health parameters in hospitals or at home.
It combines a wearable patch with a cloud-based platform and associated support services. MultiSense delivers continuous measurements of six key parameters, including heart rate, respiratory rate and oxygen saturation.
More than 20 patents protect the product.
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Sustainable development has been key in the design of the MultiSense solution: the device can be cleaned, refurbished, and reused, to minimise its carbon footprint. MultiSense is intended to facilitate the development of ‘short-term’ hospitalisation protocols: reducing the average length of hospital stays, making hospital discharge safer, and improving patients’ quality of life.
The funds will help accelerate the next stages in its development, including market launch, once CE marking is obtained (expected by the end of 2023).
RDS is now preparing for a Series A funding round in 2024 to initiate the marketing of MultiSense in Europe, continue the development of its pipeline products, and launch new clinical trials. It will also fund registration of the device with the US authorities in anticipation of the product’s launch in the country in 2025.
Elie Lobel, CEO of RDS, shared:
“We are very glad to welcome Capital Grand Est as an investor and, more broadly, for the support received during this seed stage. This investor backing confirms the appeal of our technology as we prepare for our Series A round. Numerous hospitals across Europe have also expressed their support, including in France, Belgium and Germany, a clear demonstration that our MultiSense device meets a real need in transforming patient care.”
Since RDS’ inception, the company has received a number of non-dilutive fundings from various organisations, including the French government (through the France2030 program), French public sector investment bank Bpifrance, the Grand-Est regional authority, and the European Union.
