Taiwan-Based Healthtech Company iWEECARE Extends Pre-Series A Funding with $2.4 Mn
iWEECARE will utilize the fresh capital to accelerate marketing activities to address the demand for remote patient monitoring technologies in the United States and China
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Taiwan-based iWEECARE, a healthcare technology company known for developing the smallest continuous temperature monitoring products, on Tuesday announced that it has raised USD 2.4 million in extended Pre-Series A round.
The investment was led by TransLink Capital, a Silicon Valley based investment firm along with participation from Taiwan's National Development Fund, BE Capital, Taiwan Surface Mounting Technology Corp (TSMT), NCTU Angel Club and others.
In the wake of the COVID-19 pandemic, the company aims to address the demand of remote patient monitoring and achieve higher levels of public safety.
iWEECARE's flagship product Temp Pal, a remote wearable thermometer initially developed to assist in pregnancy planning and baby care, has received medical certification in Europe, Singapore, Thailand, and Taiwan. The device has been rapidly adopted in hospitals and for home quarantine management amidst the ongoing pandemic.
Commenting on its flagship product, Glen Tseng, co-founder and chief operating officer, iWEECARE's said, "Temp Pal® received an overwhelming amount of inquiries for coronavirus use from the US and China earlier this year. The new funding will be used in accelerating our global footprint to satisfy the demands from these markets and ultimately improve patient safety and outcomes."
This product has already been used in China, Ireland, Japan, Thailand, and Taiwan to reduce spread of infection as it brings down any physical contact between the caregiver and the patient.
Speaking on the investment, Jackie Yang, co--founder, TransLink Capital, said "Under the COVID-19 pandemic and shift to remote patient monitoring, we see huge potential for iWEECARE to expand globally. We hope the new investment can help the brand to develop and establish an international presence."
iWEECARE said in its official statement that it will utilize the fresh capital to accelerate marketing activities to address the demand for remote patient monitoring technologies in the United States and China.
"iWEECARE's remote thermometer has received good press during the COVID-19 pandemic with its capabilities to detect, monitor, and record patients' real-time temperature. Our investment is to help iWEECARE expand its footprint in the global remote healthcare market," said Churchill Chen, CEO, NCTU Angel Club.