Good day. LifeQ Inc., an Alpharetta, Ga.-based provider of wearable-device technology that records health data, has raised $47 million in Series A funding as the company looks to meet the need for remote health monitoring spurred by the Covid-19 pandemic.
Chief Executive of LifeQ Laurence Olivier said much of the capital from the Series A round will be used to help hospitals and physicians develop remote monitoring in addition to the consumer-device monitoring LifeQ currently provides.
The company’s firmware, permanent software programmed into a hardware device, can provide early warning and detection by tracking factors like sleep patterns, heart rate and exercise routines. If something is amiss, the technology will send out an alert. LifeQ currently uses the data collected to generate health and wellness solutions for consumer, business and clinical applications.
Businesses that have taken advantage of LifeQ’s offerings include Samsung Electronics Co., Fossil Group Inc., Montblanc-Simplo GmbH and Motorola Mobility LLC.
The company’s first remote patient monitoring solution will begin pilots with both hospitals and general physician applications in the third quarter of the year. This will help hospitals track vitals such as heart rate and breathing rate in wards beyond the intensive care unit. Physicians will also be able to monitor patients from a remote location.
And now on to the news...
Pandemic Fuels Demand for Startup's Health-Monitoring Tech
By Isaac Taylor, WSJ Pro