Denmark-based Cortrium has raised $1.6 million (1.5 million euros) from Myant, a division of Myant Capital Partners, for its connected health tracking device.
Cortrium is developing wearable health sensors designed for both in-patient and home health monitoring. The startup’s device, called the C3, can measure ECG, heart rate, respiratory rate, skin surface temperature, heart rate recovery, sleep analysis, heart rate variability, physical activity level, and motion. This data is sent via Bluetooth to a tablet and then onto a portal where it can be reviewed by a provider.
In the next version of the device, it will also track oxygen saturation (SpO2) and blood pressure.
The company plans to use these funds to focus on medical regulatory compliance and clinical trials. Cortrium said it will launch the C3 in the European and North American markets.
Currently, the company is conducting data validation studies of C3's vital signs tracking with the department of oncology at Naestved Hospital and the department of cardiology at Bispebjerg Hospital. At Bispebjerg, Cortrium is conducting three studies including an 8-person one of heart rate variability and a 150-person study of ECG. At Naestved, Cortrium completed a pre-study trial and will start another in January 2016.
Last year, Bayer HealthCare, a German pharmaceutical company, announced that Cortrium would be a part of its mobile health accelerator, Grants4Apps. The accelerator started the year prior as a crowdsourcing initiative. As part of the accelerator, Bayer said it would offer 50,000 euro (about $65,000) to each of the five startups in the program, and take less than 10 percent equity in the companies.