Zürich-based medical technology start-up Sleepiz AG, raised 4.4m Swiss Francs (CHF) in Series A to expand its portfolio to chronic respiratory disease monitoring. Lead investors of the round include Verve Ventures, ZKB, the venture arm of a US health insurance, super angels, and healthcare professionals.
“Sleepiz pursues a compelling vision of making vital sign monitoring touchless, which is a paradigm shift in the industry and paves the way for a new future of healthcare,” sats Steffen Wagner, co-CEO Verve Ventures, lead investor of the Series A, in a release.
Sleepiz AG previously completed a pre-seed round of CHF 300,000 and seed round of CHF 1,035,000, with which it launched its first product, Sleepiz One. Completely contactless, the Sleepiz One measures human vital signs by being placed next to the patient’s bed. The first customers in Switzerland and India use the Sleepiz One for sleep apnea screenings.
The newly raised capital will support Sleepiz expansion of its current offering. The next generation of Sleepiz One, Sleepiz One Connect, integrates additional measurements and an enhanced telehealth platform for more actionable insights. By remotely monitoring patient’s respiration rate and patterns together with SpO2 measurements, the Sleepiz telehealth platform helps caregivers identify and act upon patient deterioration. The Sleepiz telehealth CARE team, equipped with professionally trained specialists, adds another safety layer by keeping an eye on the patients 24/7.
Sleepiz has completed its clinical investigations with clinics and key opinion leaders in the DACH (Germany, Austria, Switzerland) market. With these successes, Sleepiz aims to expand its core markets and enter the rest of Europe and the United States. Additionally, the raised capital will enable Sleepiz to classify as a Class IIa medical device under the European medical device regulation (Regulation (EU) 2017/745).
Sleepiz has also received non-dilutive funding of CHF 3,000,000 through Innosuisse, Eurostar, H2020, EIT Health, Volkswirtschaftsstiftung, DeVigier, and several other awards. In just over three years, it has grown to a team of more than 50 people including PhDs in engineering, data modeling and signal processing, as well as business and healthcare professionals. Headquartered in Zürich, Switzerland, Sleepiz AG also has its own subsidiary in Pune, India.