PALO ALTO, CA, Connected health company has raised a further $2M in venture capital funding.
MOCACARE, a Silicon Valley based company at the heart of the connected health movement, announced it has raised a further $2m in venture capital funding, bringing its total investment to over $4 million. This latest investment was led by JDM Mobile Internet Solutions Co., Ltd., a Singapore based fund focused on wearable tech and mobile health solutions and follows a seed funding and Kickstarter campaign that raised over $120,000 for development of its MOCAheart consumer health monitor.
Joining JDM, in the $2 million round are EMB International, a company created by Taiwanese-based businessmen and physicians focused on packaged goods and medical devices and ATOM Health Corporation, a medical device and connected health company and early investor in MOCACARE launched in 2013.
In addition to funding, each institutional investor brings expertise and strategic resources to MOCACARE in the thriving APAC Market. All have significant presence in China and Taiwan, specializing in fueling the growth of North American products within the region. The additional funding will support the domestic and international rollout of the MOCAheart device.
Shipping in September 2015 priced $149.99, MOCAheart is a smart device that gives people a simple way to monitor their cardiovascular health, without the need for cuffs or monitors. The device scans fingertips to measure blood velocity, determines heart rate and blood oxygen levels and gives an easy to understand indicator of overall cardiovascular health called the MOCA INDEX - a qualitative measurement of blood flow that is correlated to blood pressure.
This is the second company in the health space started by co-founders Dr. Daniel Wei-Chen Hong (MD), CEO, and Naama Stauber, COO. 'The capital and strategic resources provided by the investment partnerships will take the MOCAheart device to a whole new level,' said Hong. 'We have seen extremely strong interest in MOCAheart from the investment and medical community and look forward to bringing it to consumer audiences.'
'$47.5 billion is spent annually on costs associated with high blood pressure, affecting 67 million American adults,' said Steve Huang, who led the EMB investment. 'There is an opportunity around the world to simplify the monitoring of cardiovascular health and we're excited to invest in MOCACARE that is well placed to power this resource to consumers and medical professionals.'
MOCACARE's mission is to improve the quality of life for users by creating solutions that bring together the very best in health, technology, science and comfort. The company's multidisciplinary team of scientists, engineers, designers and physician studied at Stanford, California College of the Arts, and John Hopkins University. Established in 2013, MOCACARE is headquartered in Palo Alto with an engineering center in Taipei.
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