Respiratory care startup Telesair raises $22M and more digital health fundings
Telesair, a medical device company developing hospital-to-home products for respiratory care, announced it had raised $22 million in Series A funding.
The round was led by Pasaca Capital with participation from Honeywell Ventures, ZhenCheng Capital, Shangbay Capital, Device of Tomorrow Capital, Berkeley Catalyst Fund and Ultrastar Ventures LLC.
The investment will be used to commercialize its Bonhawa Respiratory Humidifier, designed for use in the ICU, and support the development of a new product that aims to help patients leave the hospital more quickly and stay at home safely.
“Honeywell is aligned with Telesair’s mission to improve lives through innovation in digital healthcare,” Patrick Hogan, managing director of Honeywell Ventures, said in a statement. “We are impressed with their mission and technology roadmap, and we are excited to collaborate with them in critical areas such as advanced sensing and remote patient monitoring, enabled by artificial intelligence and machine learning.”
ModifyHealth, which delivers medically tailored meals and offers virtual support from dietitians, raised $10 million in a Series B funding round led by RC Capital with participation from existing investor Nashville Capital Network.
The startup works with patients with chronic conditions like Type 2 diabetes, hypertension, kidney disease, obesity and irritable bowel syndrome. Modify, which raised its $2 million Series A in 2020, plans to use the funds to support its growth and expand its nationwide operations.
“Diet and lifestyle play a vital role in the management of chronic health conditions and we’re just scratching the surface on the impact we can make. RCC is a great fit for ModifyHealth and their strategic support, healthcare expertise, and shared vision will help us deliver outcomes more rapidly and broadly,” GB Pratt, founder and CEO of ModifyHealth, said in a statement.
Censinet, developer of healthcare cybersecurity software, scored $9 million in a funding round led by MemorialCare Innovation Fund.
Other participants in the raise include Rex Health Ventures, Ballad Ventures, LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures and Cedars Sinai. Censinet said the round brings its total funding pot to more than $22 million.
“With the number of breaches escalating and ransomware now a direct threat to patient safety, the need for the healthcare industry to transform cyber risk management has never been more urgent. Censinet’s unique risk exchange enables providers, payers and vendors to collaboratively manage third party and enterprise risk, continuously improving risk posture in real-time and strengthening cybersecurity across all healthcare organizations,” Ed Gaudet, the company’s CEO and founder, said in a statement.
Dutch startup Lapsi Health raised $3.7 million in a seed funding round led by Sahir Ali of Modi Ventures.
The company is developing digital biomarkers using auscultatory sound, or internal body sounds from the heart, lungs and abdomen. Lapsi will use the capital to continue to develop their tools, submit to the FDA and expand into the U.S. market.
CARI Health, which is developing a wearable sensor for medication management, raised $2.3 million in seed funding.
The round was led by the San Diego Angel Conference (SDAC) with participation from NuFund Venture Group, Cove Fund, Chemical Angel Fund, Medical Devices of Tomorrow and angel investors.
The startup is creating a sensor worn on the skin that allows for remote medication monitoring. If medication levels fall outside of set guidelines, patients, family members and providers can receive alerts.
The capital will go toward completing its first human clinical studies, expanding its intellectual property portfolio and planning for a regulatory submission with the FDA. CARI will first focus on monitoring medications for opioid use disorder (MOUD).
“We are passionate about the potential to make an impact and build something bigger than ourselves,” founder and CEO Patrik Schmidle said in a statement. “Wearable remote monitoring would be life-changing for hundreds of thousands of MOUD patients, who under today’s standard of care have to show up almost daily for clinic visits, especially in the beginning of treatment.”