Singapore-based Aevice Health has secured $7 million in an expanded seed funding round led by Cedars-Sinai's Singapore venture arm, Coronet Ventures.
Existing investors including East Ventures, A&D Company, NTUitive, Farquhar Venture Capital and Silicon Solution Venture also participated in the round. Enterprise Singapore's investment arm SEEDS Capital also participated in the round.
The startup, a spin-off from Nanyang Technological University, offers a technology platform for managing chronic respiratory diseases, featuring AeviceMD, a smart wearable stethoscope approved in Singapore and the US.
What is it for?
The company said in a statement that the new funding will be used to further expand and strengthen product development in its key markets of Singapore, Japan and the U.S. Recently, the startup joined the Cedars-Sinai Accelerator program to learn how to navigate the U.S. clinical, regulatory and reimbursement systems, which will help it scale its operations in the U.S.
Avice Health has been steadily raising investor funding over the past three years as it works to roll out its wearable respiratory monitor globally. The company raised $1 million from A&D in May, an undisclosed investment from East Ventures last year, and $2 million in pre-series A funding three years ago.
Earlier this year, Aevice Health began working with London-based Jiva.ai to develop an AI to predict asthma exacerbations.
