loop+, a provider of sensor-enabled wheelchair pad, raised A$3 million (~$2 million) led by Yamaha Motor Ventures & Laboratory Silicon Valley (YMVSV), the strategic business development and investment arm of Yamaha Motor.
The seed round also saw additional investment from Giant Leap Fund, Eleanor Venture, and other investors based out of Australia.
The ‘loop+‘ product is fused with a sensor mat that collects data continuously on user activity such as pressure, position, environmental conditions like humidity, and general activity. Further, the insights are displayed with the help of the app to signal healthcare professionals regarding potential risks allowing for early interference. A web-based platform connects the entire activity between users, their care teams, and clinicians.
“It is tremendously exciting to be working with Yamaha Motor Ventures to scale our enterprise and deliver the loop+ device to wheelchair users,” said Kath Hamilton, co-founder, and CEO of loop+ stated in the company press release.
George Kellerman, CEO & Managing Director of YMVSV, commented in the press release, “Yamaha Motor is actively supporting innovation in the health tech sector to help bring technology to the market to address challenges and leverage opportunities for better patient care. loop+ is one such company, taking a preventative health approach to help avoid suffering and lower costs associated with prevalent pressure-related conditions for wheelchair users.”
Other sensor-based health technologies that received funding included, Peerbridge Health, a developer of a wearable vital sign monitoring sensor that provides heart rate and heart rhythm information to consumers, raised $11 million.
Current Health (formerly snap40), the developer of an AI-enabled wearable device that helps health professionals monitor patients in the hospital and at home, closed $11.5 million in funding.