Covid-19 accelerates the demand for remote patient monitoring technologies and new care delivery models.
, the developer of the world’s smallest continuous temperature monitoring product, Temp Pal®, announced that it raised US$2.4 million in extended pre-series A financing. TransLink Capital, a Silicon Valley-based venture capital firm with a specific focus on Asia, led the round of fundraising. Spurred on by the COVID-19 pandemic and the subsequent need for remote patient monitoring, notably in fever detection, the Taiwan-based healthtech company plans to address the demand and achieve higher levels of public safety.
The round also saw investment from Taiwan’s National Development Fund, BE Capital, Taiwan Surface Mounting Technology Corp (TSMT), NCTU Angel Club, Might Electronic, and existing investors Verge HealthTech Fund and Darwin Venture.
iWEECARE’s flagship product Temp Pal®, a remote wearable thermometer initially developed to assist in pregnancy planning and baby care has received medical certification in Europe, Singapore, Thailand, and Taiwan. In light of the ongoing Covid-19 pandemic and the key role that body temperature plays in early detection and prevention, Temp Pal® has been rapidly adopted in hospitals and for home quarantine management.
The Temp Pal® has already been deployed in China, Ireland, Japan, Thailand, and Taiwan as an effective solution to mitigate the risk of infection and reduce the burden on health systems by reducing the physical contact between caregivers and their patients.
The funds will be used to accelerate marketing activities to address the demand for remote patient monitoring technologies in the United States and China. iWEECARE’s co-founder and CEO, Glen Tseng said, “Temp Pal® received an overwhelming amount of inquiries for coronavirus use from the US and China earlier this year. The new funding will be used in accelerating our global footprint to satisfy the demands from these markets and ultimately improve patient safety and outcomes.”