Wanda Well being extends funding spherical to £1.9m

Wanda Well being, a platform offering distant affected person monitoring and digital care providers, has prolonged its newest funding spherical to £1.9m.

Based mostly in Bristol with intensive operations within the US, Wanda Well being’s platform collects well being knowledge from sufferers to proactively establish potential well being issues, sending alerts to healthcare suppliers.

The corporate secured a £1m funding in December from deep tech and life science funding group EMV Capital.

The AIM-listed investor has prolonged Wanda Well being’s spherical with an Enterprise Funding Scheme (EIS) funding of £834,000 alongside a £250,000 debt facility. The brand new funding will assist the corporate’s continued enlargement within the US.

“With the extra capital, we’re nicely positioned to capitalise on the rising alternatives within the quickly increasing digital distant monitoring market and to maneuver nearer to our mission of delivering the best-in-class clever digital care,” stated chief government Tom Smith.

“With new funding in place and key partnerships progressing nicely, we are actually scaling our influence throughout the US.”

Smith stated the corporate’s current contracts alone, as soon as totally onboarded, will present the agency with greater than £2.6m in annual recurring income, after which it’s going to search a Sequence A funding concentrating on a “considerably increased valuation”.

“We’re extremely grateful to EMV Capital for his or her continued perception in Wanda’s mission,” Smith added.

EMV Capital chief government and chairman of Wanda Well being Dr Ilian Iliev stated: “We’re delighted to assist Wanda because it continues to develop and construct out its platform, buyer base, market technique, and management workforce.

“With rising demand and a clearly outlined regulatory pathway, the corporate is constant nicely on its progress journey. We stay up for seeing Wanda’s influence develop, because it scales its operations throughout the US, and past.”