Web Biotechnology Pte Ltd (WEB, the "Company"), specializing in Cloud-based Remote and Personalized Wearable ECG monitoring today announced a Pre-series A financing round from Singapore-based SGinnovate.
WEB produces the Spyder ECG, the World's first medical grade ECG wearable that transmits continuously through a smartphone to a Cloud Database. Artificial Intelligence (AI) is then applied to the data to analyze ECG rhythm abnormalities in real-time. Its unique 24/7 "always on" system allows continuous patient ECG data transmission from anywhere in the world with a connected smartphone. Physicians can remotely log in securely into the database and report findings to patients from another connected device.
WEB has 2 product lines; the Spyder PRO, which is used to replace traditional hospital-based Holter ECG systems with a simple non-invasive wearable system for diagnostic ECG monitoring for extended periods up to a month. The PRO is widely available in many hospitals in Singapore, in Asia and the EU, is CE-Marked and HSA (Health Sciences Authority Singapore)-approved for remote cardiac rhythm monitoring. Its ease of use by patients, real-time wireless connectivity to the cloud, allowing quick physician feedback has proven a marked improvement over traditional cumbersome, wired Holter systems. The Spyder PRO is available currently in over 30 countries worldwide through WEB's distribution network.
The Spyder PERSONAL is an ECG Event monitor that allows anyone with a Spyder Wearable and connected smartphone to monitor his or her own cardiac rhythm. An App-enable smartphone allows continuous personal visualization of the ECG and an intuitive interface on the smartphone allows a 5-minute rhythm strip/event to be captured with this system into the cloud database. The user receives the captured event via immediate Email notification and the ECG strip can be sent to a physician for consultation. The Spyder PERSONAL is available as an online purchase.
SGinnovate's priority is to work with deeply-technical founders that have research-originated IP at the core of their companies. Its mission is to enable ambitious and capable individuals and teams to imagine, start, build and scale globally-relevant technologies. It backs the entrepreneurs through equity investments, access to talent, and support in building customer traction. SGInnovate is a private limited company wholly owned by the Singapore Government.
Funds raised will be used by WEB to expand and scale into new markets, improve core backend Cloud database and AI systems, and research new generation improved ECG and vital sign wearables.