Dozee, a developer of contactless vitals monitoring device for chronic disorder management, parent care, and critical patient monitoring, raised $1.7 million in a funding round led by Prime Venture Partners, YourNest Venture Capital, and 3one4 Capital.
With the new funds, the company plans to expand market reach, further develop real-time vital signs monitoring capabilities on its device, accelerate device adoption, complete certifications & approvals, and improve user experience.
Founded by IIT alumni, Mudit and Gaurav Parchani, Dozee was developed after research conducted with leading hospitals in Bengaluru like Sri Jayadeva Institute and Nimhans. The device tracks key vitals like respiration rate, heart rate, oxygen saturation, and monitors stress recovery rate and sleep stages, with an estimated medical accurate rate of over 98.4%.
“We have focused on the core product and on building it ground up. We are now looking to go deeper into the market and expand across different geographies. We already have four patents pending for our technology, and we intend to get more approvals and apply for patents abroad,” said Mudit Dandwate, CEO and Co-founder of Dozee.
Dozee works on a technology called Ballistocardiography, a non-invasive method that tracks vibrations from every heartbeat, respiration, and smallest body movements. The team has built a proprietary Advanced Health Intelligence System that extracts biomarkers and vital parameters from the noisy vibration data captured by the sensors. The AI system helps identify health deterioration through abnormalities across all vital parameters that Dozee measures.
“Using its proprietary sensing technology and advanced AI algorithms, Dozee not only can provide quality healthcare to millions of individuals but also, by precisely monitoring the vitals of users at home and hospitals, can improve their health and avoid escalations by allowing for timely interventions,” said Dr. Vivek Mansingh, General Partner of YourNest
Mobile Wireless device startups raised over $210 million in the first half of 2020, according to Mercom’s latest report.
Image Credit: Dozee