Health monitoring technology and clinical intelligence company BioIntelliSense has announced the completion of an oversubscribed Series B funding round that totaled to $45 million. The investment round was led by Chimera, with notable participation from 7wire Technology Partners, Pendrell Corporation, Royal Phillips, and Fresenius Medical Care North America. This capital score reflects the medtech industry frenzy that’s been building over the company’s line of wearable biometric solutions.
BioIntelliSense’s BioSticker wearable device earned FDA clearance for commercial sale in early 2020. A few months later, the company launched the BioButton sensor, which tracks vital signs such as respiration, body temperature, and heart rate. Beyond its forays into the wearable devices business, BioIntelliSense has produced a 5G, cloud-ready device for automatic health data exchange and a data-as-a-service health monitoring platform.
Investors are banking on a bright future for BioIntelliSense in the remote patient monitoring market, which experts project will hit $117 billion by 2025. The ongoing pervasiveness of COVID-19 and chronic disease has fast tracked the demand for remote healthcare solutions. BioIntelliSense is poised to ride this trend and dominate the sector.
The Series B triumph follows the recent announcement of the company’s collaboration with healthcare delivery technology company AirStrip. The BioSticker and BioButton are to be integrated into the AirStrip ONE remote care platform.