Medtech Startup NanoVation Wins $5.9 mln Investment from EIC Investment Fund

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on July 7, 2021

An investment of $5.9 million was made by the European Innovation Council (EIC) Fund in NanoVation.

It is the first Israeli company to receive both funding and equity from EIC. This investment is part of an EIC strategy to identify and support startups and small companies with significant impact while helping them scale their technology.

NanoVation is a medical device company developing a new respiratory monitoring technology to remotely monitor a patient’s breathing rate and lung function.

The investment will help accelerate the progress of NanoVation’s high-precision respiratory monitor and start marketing efforts in the EU. The company is currently based in Haifa and developing their first proprietary nanosensor technology-based respiratory monitoring device, SenseGuard.

SenseGuard is a wearable wireless solution for on-site inspection or continuous monitoring of patient breathing for remote monitoring of respiratory conditions and chronic diseases. With this device, a number of other monitoring options become possible.

The company says the analysis of a patient’s normal breathing rhythm can provide clinically useful information such as the status of lung health, lung function and also help diagnose possible diseases.

The measurements are simple and easy to understand. It does not require the patient to manipulate uncomfortable and stressful breathing. No clinical expert supervision and guidance is required to ensure accurate performance and reliable results.

This allows patients to use the device at home and take their own measurements on a daily basis. It helps save costs, improve patient safety and quality of life.

It also shortens a patient’s hospital stay by providing data to support timely and effective decisions and actions by healthcare professionals. In addition, this device helps patients to be discharged from the hospital earlier by continuously monitoring the patient at home.

Its purpose is to improve the quality of life and treatment of patients as well as reduce health care system costs. NanoVation was founded in 2014 under the leadership of Dr. Gregory Shuster, Nadav Bachar and Professor Hossam Haick.

The company’s mission is to reduce the high economic and medical costs of patients’ hospitals and improve their safety, quality of care and life expectancy.

This investment from EIC will help NanoVation successfully scale up its SenseGuard technology, which looks like an innovative solution for monitoring patients with respiratory conditions including COPD.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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