South African health wearables startup Vitls has secured six figure funding from three angel investors, to enable the startup to conduct further trials and commercialise its devices.
Vitls produces wearable health trackers which allow medical teams to remotely monitor a patient’s vital signs. The startup is based on the idea of wireless connected healthcare: combining discreet wearables with cloud-based data analysis to improve patient care.
So far the startup has been pre-commercial launch, working on product development and testing.
Vitls has now secured six figure dollar funding from three New York-based angel investors, which will push the startup into a commercialisation phase.
Founder Werner Forster says the investment will be used to launch in-hospital clinical trials; obtain regulatory approval; product commercialisation and customer acquisition.
“This is incredible news and we are so grateful for the funds that are coming in! Starting a company is such a hard and long road and having investors who believe in you definitely helps,” Forster says.
“Our investors are big players in the BioPharma space and their experience was an important factor for us going into this deal. Our team is extremely passionate about what we’re working to achieve and we work well together.”
Vitls is still looking for further investment, and as such its fundraising round remains open. The startup is also looking to establish partnerships in the healthcare space.