Healthy Networks raises $1 million
Healthy Networks, a Belarusian startup that helps detect early signs of lung disease, has announced it has closed its seed investment round after securing $925,000 in funding.
Investors include Beurer (a German manufacturer of electrical devices promoting health and well-being), Verge HealthTech Fund and two business angels from Estonia and Italy. This round of funding brings the startup’s total capital raised to more than $1 million. The investment will be used to launch its low-cost AI-powered wireless stethoscope, Lung Pass, in Belarus and Europe.
The app helps detect and monitor lung problems. The user needs to record their lung sounds with a stethoscope and answer a few questions about their symptoms. Neural networks identify the sound types present and provide a clear and comprehensive analysis of the user’s respiratory health state. Healthy Networks says Lung Pass can spot conditions like pneumonia, asthma or COPD, and does this more accurately than the average doctor.
According to the startup’s CEO, Helena Binetskaya, Lung Pass is undergoing the certification process. Healthy Networks expects to get regulatory approval in Belarus by summer. In Europe, the certification granting procedure should be complete by autumn.
The wireless stethoscope and app are scheduled for release towards the end of 2020. Lung Pass will be available for iOS and Android in English, German, French, Italian, Russian and Spanish.
Healthy Networks is planning to attract further investment enabling it to expand the trials and improve and promote the product as well as win leading positions in the market.