Taiwan-based health tech startup iWEECARE announced that it has raised $1M in Pre-Series A funding, led by Singapore-based Verge HealthTech Fund, alongside Taiwan/US-based Translink Capital and Darwin Venture. The company also just received regulatory approval to market its flagship product, Temp Pal, the world’s smallest smart thermometer, in both the EU and Taiwan.
What’s it about
Temp Pal is a comprehensive and convenient wireless body temperature tracking solution that offers real-time monitoring combined smart alerts, seeking to disrupt a market forecasted to reach $1.5B by 2025 currently dominated by digital pen and in-ear thermometers.
It is a patented stamp-sized soft flexible patch that packs a high-performance temperature sensor, customised thin battery that lasts 2-3 days, and a Bluetooth® radio. The 1.1 x 1.0 x 0.1-inch patch weighs only 3 grams, offering unparalleled comfort; and it is accurate to less than 0.05°C (0.9°F), verified and validated via an accredited third-party laboratory, allowing clinical grade body temperature measurement.
The soft, flexible and small patch transmits body data to a secure cloud via its own mobile app, generating real-time charts and alerts as needed. The wearable solution can also be applied in hospitals and clinics, allowing faster health care decisions to be made, and saving precious healthcare staff time by offering centralised tracking and analytics from multiple devices.
What’s the trend
Last June, Masimo and Thermomedics launched a contactless Bluetooth-enabled thermometer in the US market. The FDA-cleared thermometer connects to Masimo’s Root platform, a monitoring hub for clinicians that can integrate with a number of devices and provide caregivers with information about brain function monitoring, regional oximetry, capnography, and vital sign measurements.
In March 2017, smart thermometer maker Kinsa raised $17M to develop new smart health tools. The company’s suite of smart thermometers are sold online and in more than 7,000 retail stores, like Target and CVS, across the US.
On the record
“Real-time continuous monitoring of body temperature is crucial for infants, patients and couples who plan to be pregnant. Traditional thermometers rely on human behavior and efforts to test periodically, resulting in interruptions of quality of life and ambiguous health care decisions. Our company hope to address the issues with a friendly and comfortable solution,” said Glen Tseng, CEO of iWEECARE in a statement.