EarlySense, an Israel-based patient monitoring technology producer backed by corporates including diversified conglomerate Mitsui, closed a $25m funding round yesterday led by financial services provider Bank Hapoalim.
The round also featured Pitango Venture Capital, JK&B Capital and other existing, unnamed shareholders.
EarlySense has created a monitor that is placed under a mattress to offer early detection of a patient’s deteriorating condition. The company is also aiming the device at the wellness sector, where the technology can be used to improve sleep.
The technology powers a range of third-party products such as sleep improvement product SleepSense, produced by consumer electronics company Samsung.
Samsung led a $20m first close for EarlySense’s $25m series F round in January 2015, through its local corporate venturing division Samsung Ventures Israel. Medical device maker Welch Allyn, charitable organisation Noaber Foundation, Pitango, JK&B and Proseed Venture Capital Fund also contributed to the first close.
Mitsui supplied the $5m second tranche in April 2015.
EarlySense has raised a total of $100m to date.
Avner Halperin, chief executive of EarlySense, said: “We are experiencing exponential growth in the medical space and this funding enables us to continue to grow as well as launch consumer digital health offerings based on our medically proven technology.
“More than one hundred thousand patients will be monitored with our sensors this year, allowing for better care. There is a real need to bring these capabilities to individuals and their family members at home. In expanding the reach of EarlySense, we can potentially impact millions of lives in both the medical and wellness markets.”