Taiwan-based healthtech company iWEECARE has raised around $2.4 million in its pre-series A funding round, media reports said.
The funding round for iWEECARE was led by TransLink Capital. Other investors that participated in the funding round include Taiwan’s National Development Fund, BE Capital, Taiwan Surface Mounting Technology Corp (TSMT), NCTU Angel Club, Might Electronic, and existing investors Verge HealthTech Fund and Darwin Venture.
It is reported that iWEECARE’s flagship product Temp Pal, which is a remote wearable thermometer initially developed to assist in pregnancy planning and baby care, has received medical certification in Europe, Singapore, Thailand and Taiwan.
According to the company, it will use the funds to accelerate marketing activities to address the demand for remote patient monitoring technologies in the US and China.
Glen Tseng, co-founder and chief operating officer at iWEECARE told the media, “Temp Pal received an overwhelming amount of inquiries for coronavirus use from the US and China earlier this year. The new funding will be used in accelerating our global footprint to satisfy the demands from these markets and ultimately improve patient safety and outcomes.”
Jackie Yang, co-founder at TransLink Capital said that the Covid-19 pandemic and shift to remote patient monitoring has led to a huge potential for iWEECARE to expand globally.
Arthur Chen, executive director of BE Capital at Taiwan Tech Arena (TTA), a healthcare-focused venture capital firm in Taiwan, said that they received positive feedback from clinicians of Show Chwan Memorial Hospital and are confident that Temp Pal can be a world-class product.