Personal MedSystems beats its way to series B
Posted on 26 January, 2017 by Robert Lavine, news editor, Global Corporate Venturing
Personal cardiac monitor developer Personal MedSystems has secured $5.4m in a round backed by Sino German High-Tech Fund, NRW Bank and KfW.
Germany-based cardiac health technology developer Personal MedSystems has received €5m ($5.4m) in series B funding from backers including Sino German High-Tech Fund, which is backed by the Chinese and German governments.
The round also featured development banks KfW and NRW Bank, the latter of which represents the German state North Rhine-Westphalia, VC fund High-Tech Gründerfonds and KPN Ventures, the corporate venturing arm of telecommunications company KPN.
Personal MedSystems has built a smartphone-based, personal electrocardiogram device called CardioSecur capable of providing instant feedback on heart symptoms through an app. Seventure Partners had previously invested €2.5m in the company in 2013.
Sino-German High-Tech Fund managing director Alex Liu said: “We are impressed by the innovative and professional services and products provided by Personal MedSystems.
"Its expertise in instant cardiac monitoring service and creative spirits have enabled it to deliver great value in [the mobile health] industry. We look forward to working with the experienced management team to help scale new heights and contribute to public health.”
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