Singapore-based Aevice Health has secured $7 million in an extended seed funding round led by Cedars-Sinai’s Singaporean venture unit Coronet Ventures.
The round also saw the participation of existing investors, including East Ventures, A&D Company, NTUitive, Farquhar Venture Capital, and Silicon Solution Venture. Enterprise Singapore’s investment arm SEEDS Capital also joined the round.
A spinoff from Nanyang Technological University, the startup offers a technology platform for managing chronic respiratory conditions. It features a smart wearable stethoscope, AeviceMD, cleared in Singapore and the United States.
WHAT IT’S FOR
In a statement, the company said its fresh funds will be used to pursue further expansion activities in its key markets: Singapore, Japan, and the US, while enhancing product development. Recently, the startup joined the Cedars-Sinai Accelerator programme where it will learn how to navigate the US clinical, regulatory and healthcare reimbursement systems, assisting with its expansion there.
Aevice Health has consistently attracted investors’ money to roll out its wearable respiratory monitor worldwide over the past three years. It last obtained $1 million from A&D Co. in May. Last year, it received an undisclosed investment from East Ventures, and three years ago, it raised $2 million in pre-Series A funding.
Early this year, Aevice Health started collaborating with London-based Jiva.ai to develop an AI for predicting asthma exacerbations.
