Somatix Secures $4.5M Series B Funding to Advance Remote Patient Monitoring Solutions

VCBeat (WeChat ID: vcbeat) learned from foreign media that on December 31, 2019, U.S. digital health startup Somatix completed a $4.5 million Series B financing round, led by the U.S. venture capital firm Digitalis Ventures.

Somatix, founded on February 18, 2015, and headquartered in New York, USA, is a company that provides wearable RPM (Remote Patient Monitoring) services.

Somatix’s flagship product is the Somatix Platform, which is based on gesture detection technology. Unlike other solutions that require the installation of expensive and intrusive hardware within residential settings, the Somatix Platform enables monitoring by automatically detecting gestures from existing smartwatches, fitness trackers, or the Somatix Smartband. Additionally, the platform automatically records users’ daily data, facilitating direct human-computer interaction to ensure data integrity and accuracy.

SafeBeing™ Advanced Remote Patient Monitoring and SmokeBeat™ Smoking Cessation Monitoring are two breakthrough digital health solutions on the Somatix platform, covering activities of daily living such as walking, sleeping, alcohol consumption, medication adherence, and smoking. The monitoring system provides 24/7 continuous surveillance, detects a wide range of insights based on changes in activity patterns, and triggers appropriate alerts and notifications to caregivers and family members.

The integration of advanced sensor technology, algorithmic intelligence, and human behavioral patterns is key to reducing costs and delivering superior personalized real-time care.

Somatix plans to use the funds from this financing round to continue expanding its remote patient monitoring business and optimize the service quality of its monitoring platform, thereby driving the development of the telehealth monitoring industry.

Previously, Somatix completed a $5.5 million Series A financing round in July 2017 and a $1.5 million seed financing round in April 2015. The investor for the Series A round in July 2017 was the U.S. venture capital firm Digitalis Ventures. Other specific details were not disclosed.

About Digitalis Ventures

Digitalis Ventures, established on February 1, 2016, is a venture capital firm headquartered in New York, with offices in Los Angeles and San Francisco, dedicated to addressing complex challenges in human and animal health. The firm invests in entrepreneurs, inventors, and scientists, exploring fields such as bioengineering, consumerization of healthcare, data architecture, measurement of living systems, human biology, and precision health, thereby covering nearly the entire medical ecosystem.

(Compiled by Yang Xiaohui)