Uganda-based e-health startup Neopenda has closed a US$1.04 million seed funding round to manufacture and commercialize its product, expand its team and pilot in other markets.
Neopenda was founded by Columbia University alumni Sona Shah and Teresa Cauvel, both of whom are biomedical engineers.
The startup’s main goal is to provide the vulnerable with access to quality medicare through the use of their medical devices.
Neopenda’s pioneering product, the NeoVSM (pictured), is a wearable device that monitors the wearer’s vital signs such as; pulse rate, respiratory rate, blood oxygen saturation, and temperature. Health data from multiple devices is displayed on a tablet in real time. Health workers are alerted when the wearer’s vitals go outside what is considered healthy zone.
This seed round was led by Axel Johnson Inc, East-African based VC fund, SUNU Capital, joined in on the round alongside several angels.
Recently Neopenda crowd-funded USD 288,104 from 700 contributors. In 2018, it won USD 30,000 in the UN She-Innovates Prize.
