BioT Raises $6.5 Million in Seed Round to Accelerate the Connected Care Revolution
TEL AVIV, Israel, June 29, 2021 /PRNewswire/ -- BioT, the market leader in medical devices cloud connectivity and remote care, announces today a $6.5 million Seed Round financing led by Bridges Israel, together with North First Ventures, and XT Hi-Tech. The company unveils that the capital will be used for expanding the team, expediting the next generation of the platform, as well as supporting the growing sales pipeline in the US and in Europe. BioT also shares the new appointment of Daniel Adler as its Chief Executive Officer.
Connected Care is quickly becoming a major factor in the healthcare industry by eliminating the need for patients to return to a physician's office for check-ups and monitoring.
BioT is poised to disrupt Connected Care by offering innovative medical device providers a secure, HIPAA and GDPR-compliant cloud platform where they can connect their device, execute algorithms, disseminate alerts and engage with patients and caregivers remotely.
In our world device providers are spending millions of dollars and years building connected care solutions with questionable cybersecurity measures that do not excel in patient engagement. With dozens of customers utilizing its solutions, BioT offers a proven low-code platform that reduces the skill-set required to develop such systems. When integrating with a solution like BioT, Internet of Medical Things (IoMT) providers can save up to 80% of time and cost to market when compared to creating, building and executing an in-house platform.
"BioT invites IoMT innovators to see how a proven reliable platform can expedite their time to market, reduce dramatically their costs and jump over regulatory barriers, while enabling them to continue and focus on their core expertise" says Daniel Adler, Co-Founder & CEO of BioT. "Our mission with BioT is to accelerate the well-needed vision of providing better treatment for patients wherever they are as if they got it at the best hospitals and clinics in the world."
"Healthcare must shift from reactive and acute to proactive and preventive. The only way to achieve this shift is through connected healthcare devices and services that allow ongoing remote monitoring and treatment for patients. We, at Bridges Israel, are happy to join forces with the management team at BioT and with N1V and XT Hi-Tech, our co-investors, to support BioT in developing its platform, improving and shortening time to market and enabling the fulfilment of this connected care vision with the goal of improving the health condition of many" says Ran Grodecki, Managing Partner at Bridges Israel.
BioT is a low-code, easy-to-integrate, cloud-based platform for medical device manufacturers designed to instantly connect patients with caregivers to ensure a seamless continuum of care. BioT offers cutting-edge technology backed by security/regulation liability in a fully customizable, off-the-shelf product that eliminates barriers allowing fast and successful connected care adoption. To learn more about BioT, please visit biot-med.com
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