Israeli patient monitoring startup, Neteera, raised $6.7 million in Series B1 funding, led by Aescuvest and joined by Foxconn Technology. The funding follows a $13 million Series B round in April 2023, also led by Aescuvest, bringing their total funding to $28.2 million.
Neteera, founded in 2014, offers an FDA-cleared solution for continuous, contactless, passive vital signs and bio-data monitoring, enhancing patient care and operational efficiency in healthcare and home health settings. Their technology relies on a sub-THZ micro-radar on chip sensor, ensuring privacy and comfort for patients.
Foxconn Technology’s (FTC) participation not only provides funding but also a manufacturing partnership, supporting mass production of Neteera’s products.
The additional capital supports the startup in accelerating production, team expansion, and meeting growing demand for Neteera’s contactless patient monitoring platform.
Despite current market challenges, Neteera contactless patient monitoring solution is increasingly adopted by long-term care facilities in the US, with a significant number of products in the deployment phase.
Aescuvest is a healthcare investment firm, operating an exclusive platform for digital healthcare ventures, providing opportunities for direct investments and making a substantial impact in the healthcare sector.
Foxconn, an associate of Hon Hai Precision Industry, is a professional ODM manufacturer, offering comprehensive design capacity, volume manufacturing capability, and customer service. It has expanded its portfolio to include medical device CDMO, robotics, and electric vehicles.