Sleepiz AG Raises 4.4m CHF in Series A Round to Expand Its Portfolio for 1.3 Bn People Who Suffer from Chronic Respiratory Diseases
ZÜRICH – Sleepiz AG, a Zürich based medical technology start-up, has announced today that it raised 4.4m CHF in Series A to expand its portfolio to chronic respiratory disease monitoring. Lead investors of the round include Verve Ventures, ZKB, the venture arm of a US health insurance, super angels, and leading healthcare professionals.
"Sleepiz pursues a compelling vision of making vital sign monitoring touchless, which is a paradigm shift in the industry and paves the way for a new future of healthcare", Steffen Wagner, Co-CEO Verve Ventures, lead investor of the Series A.
Sleepiz AG is an ETH spin-off that aims to improve people’s lives by creating the future of healthcare. The start-up has previously completed a pre-seed round of CHF 300 000 and seed round of CHF 1 035 000, with which it launched its first product, Sleepiz One. It is a small device that is simply placed next to the patient’s bed. Completely contactless, the Sleepiz One measures human vital signs with medical accuracy. Currently, the first customers in Switzerland and India use the Sleepiz One for sleep apnea screenings, a disorder that affects 1 billion people worldwide but of which only 20% are diagnosed.
The newly raised capital will support Sleepiz expansion of its current offering. Chronic respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), as well as recently COVID-19, are one of the leading causes of death worldwide. With continuous remote monitoring and timely interventions, these deaths can be prevented. The next generation of Sleepiz One, Sleepiz One Connect, integrates additional measurements and an enhanced telehealth platform for more actionable insights. By remotely monitoring patient’s respiration rate and patterns together with SpO2 measurements, the Sleepiz telehealth platform helps caregivers identify and act upon patient deterioration before it is too late. The Sleepiz telehealth CARE team, equipped with professionally trained specialists, adds another safety layer by keeping an eye on the patients 24/7.
Sleepiz has already successfully completed its clinical investigations with leading clinics and key opinion leaders in the DACH market. With these early successes, Sleepiz aims to expand its core markets and enter the rest of Europe and the US. Additionally, the raised capital will enable Sleepiz to classify as a Class IIa medical device under the European medical device regulation (Regulation (EU) 2017/745).
Sleepiz has also received non-dilutive funding of CHF 3 000 000 through Innosuisse, Eurostar, H2020, EIT Health, Volkswirtschaftsstiftung, DeVigier, and several other awards. In just over three years, the ETH spin-off has grown to a team of more than 50 people including PhDs in engineering, data modelling and signal processing, as well as business and healthcare professionals. Headquartered in Zürich, Switzerland, Sleepiz AG also has its own subsidiary in Pune, India. The company collaborates closely with leading clinics in Switzerland and Europe.
Sleepiz AG (Ltd.) is a Zürich based startup with a mission to provide patient-centric disease management through seamless integration of contactless monitoring into people’s homes. Sleepiz leverages the power of sleep insights with a device that is simply placed on the bedside table. The device operates in a non-contact fashion and measures movements originating from heart contractions and breathing patterns, as well as body motions with medical grade accuracy.
While currently focusing on respiratory illnesses, Sleepiz aims to improve people’s lives by creating the future of healthcare. By making use of wireless millimeter wave technology, sensor fusion and artificial intelligence, in the future Sleepiz will not only be able to diagnose sleep disorders but also perform long-term monitoring. Thereby, the progression of chronic diseases will be monitored to allow faster intervention and better treatment.