According to the document, the proceeds from this round of financing came from 55 anonymous investors, and the company hopes to refinance $308,055 before the end of the round. Currently, the company has not stated how it intends to spend this financing.
InfoBionic is headquartered in Lowell, Massachusetts, USA, and was founded in 2011. InfoBionic has developed the MoMe Kardia wireless remote ECG monitoring system to assist in the diagnosis of arrhythmia. In March of this year, InfoBionic said it was approved by the FDA 510(k) for its next-generation MoMe Kardia wireless heart remote monitoring system.
It is understood that the next generation MoMe Kardia is a three-in-one (Holter, Event, MCT) single-block device that can acquire and store ECG and motion data, and then transmit it through the company's cloud-based MoMe software system. Analyze and verify the results. With a convenient mobile app, doctors can actively interact with on-demand reports and multi-parameter data. The system does not require patient intervention to capture or analyze the data, but will notify the patient triggered by the event.
InfoBionic has stated that it plans to begin selling the next generation MoMe Kardia in the second quarter of 2016.
However, InfoBionic's official website shows that this round of financing was B-1 round and was disclosed in August 2015. Leading by Safeguard Scientifics (NYSE:SFE), Excel Venture Management, Zaffre Investments, a subsidiary of Blue Cross Blue Shield of Massachusetts, and other institutions. In November 2014, the company also completed a $17 million Series B round of financing.
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