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Recently, Israel's digital health company EarlySense announced that it has received $25 million in its latest round of financing. The company's product is a non-contact sensor system that can be embedded in a hospital bed. This round of financing was led by Bank Hapoalim, Israel's largest commercial bank, and Pitango Venture Capital and JK&B Capital voted.
Both sensors are FDA- approved and products can be used in medical institutions or homes Â
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In 2004, EarlySense was founded in Israel. Currently, the company's R&D department and R&D equipment are located in Ramat Gan, Israel, and the marketing department is located in Boston, Massachusetts. Two of the company's main product non-contact bed sensor systems have been approved by the US FDA, which are upgraded versions of bed sensors and chair sensors. The sensor can be placed under the patient's mattress and seat cushion to monitor the patient's heart rate, respiratory rate and activity.
The product monitors the condition of patients who are seriously ill and need to be tracked throughout, but who do not want or need physical contact with the monitor. The EarlySense monitoring system performs a big data analysis of the patient's vital signs to understand the patient's health and helps health care workers working in unsupervised wards to keep abreast of the patient's course of disease. At the same time, the use of monitoring systems has increased the efficiency of caregivers and reduced the number of hospital stays in patients in general wards and ICU wards.
           
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EarlySense's sensor products can be used in hospitals or homes, hospital equipment solutions are priced at thousands of dollars per bed, and home consumer devices are often in the hundreds of dollars.
The company will improve its products and expand its market scale. It was awarded financing by Samsung in 2015 .
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It is reported that EarlySense won the C round of 13 million US dollars in July 2010, and in October of the same year received $ 7 million D round of financing. In June 2015, the company received $20 million in funding from Samsung. After the end of this round of financing, the total amount of corporate financing is about 100 million US dollars.
          
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EarlySense said the company will use the funds from this round of financing to improve its products and expand its market size in the medical and digital health sectors.
Avner Halperin, co-founder and CEO of EarlySense, said, "We are very much looking forward to a rapid growth in the healthcare sector. This funding allows us to use new technologies to continuously improve our products. This year, more than 100,000 patients will use our beds. Monitoring products, this product allows them to have a better medical experience. For patients and their families, non-contact bed monitoring products are undoubtedly a good choice. In the future, there will be millions of people The medical approach has been improved with EarlySense's non-contact sensors."
In the early years, the company contacted and reached a cooperation with Samsung. EarlySense did not want to directly produce its own consumer-grade equipment, just wanted to be a sensor manufacturer. Samsung is a consumer equipment manufacturer. In addition, EarlySense has developed several other consumer-oriented health products, including Samsung's sleep tracker, iFit sleep sensor and Beurer's sleep specialist application.
EarlySense team introduction      Â
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Avner Halperin, co-founder and CEO of the company, graduated from Tel Aviv University in Israel with a master's degree in applied physics and a master's degree in business administration from the Massachusetts Institute of Technology's Sloan School of Business. Avner has worked in the field of sensors for many years. He was the deputy director of R&D at Eldat Communication and the head of Newlogy - Entrepreneurship & Consulting and vice president of Lenslet.
           
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Tim O'Mally, President of the company, has more than 25 years of experience in medical technology. He was the CEO of Medwave and the vice president of ZOLL Medical Corporation.