The funding will help Waire Health expand its management team, production and product development capabilities.
Scottish startup Waire Health has received £2m from Eos Advisory in a funding round for the scaling of its remote patient monitoring technology, C-Detect, which is designed to enhance remote ward monitoring and lower hospital readmissions.
The round of funding was secured alongside Scottish Enterprise.
Waire Health will use the funding to expand its management team, production and product development capabilities, as well as boost expansion in worldwide markets, including North America.
The company’s C-Detect remote patient monitoring device can be used in hospitals and homes autonomously.
C-Detect is anticipated to cut down costs and enhance outcomes through continuous real-time monitoring and advanced artificial intelligence (AI).
Developed at the company’s Dunfermline headquarters, C-Detect is produced at a facility near Edinburgh.
With support from the University of California and organisations that include global healthcare organisations and national governments, Waire Health has extensively tested its device in trials.
RELATED: Lithuanian startup Oxipit bags €4.4M to advance medical imaging through AI
Waire Health CEO and founder Dave Hurhangee said: “The whole area of care at home got pushed over the edge during Covid. What many companies didn’t fully appreciate was the paramount importance of usability.
“If devices have to rely on mobile connections or Bluetooth, they become difficult to use from the outset, for both patients and healthcare providers.”
The company also collaborated with the Irish Government and India-based Tata Group on a pilot study related to the technology.
Eos Advisory partner Mark Beaumont said: “As healthcare systems in the UK and around the world move to remote monitoring and real-time patient data, we see a huge opportunity for Waire Health to scale its C-Detect device.”
Follow the latest news on Guided Solutions
