Switzerland-based digital health company Biovotion received SFr10m ($10.4m) on Monday in a first close of its series A round led by reinsurance company Swiss Re.
Electronics and semiconductor manufacturer STMicroelectronics also contributed to the round as an existing shareholder, though details about its previous involvement have not been disclosed.
Founded in 2011, Biovotion is developing a clinical-grade wearable monitoring platform for data such as heart rate and blood oxygenation. The platform helps users maintain a healthy lifestyle or manage a condition and connects patients to healthcare providers.
The company hopes to attract additional strategic partners for a second close of the series A round.
Andreas Caduff, chief executive and founder of Biovotion, said: “This investment marks an important strategic milestone for Biovotion. We are excited to partner with Swiss Re and collaborate on areas of mutual commercial and strategic interest as well as to benefit from continued support of STM.”
– Image courtesy of Biovotion