EarlySense raises $15 mln in venture capital

TEL AVIV Mon Nov 12, 2012 3:54am EST

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TEL AVIV Nov 12 (Reuters) - EarlySense Ltd, an Israeli-U.S. developer of patient monitoring systems, raised $15 million in a financing round led by Israeli fund Pitango Venture Capital.

Existing investors that participated include JK&B, ProSeed VC Fund, Docor International Management and Bridge Investment Fund.

EarlySense plans to use the financing to accelerate sales, further develop its patient monitoring systems and to expand clinical research.

The systems, which are installed in hospitals and rehabilitation centres in the United States and Europe, monitor and document patients' vital signs and movement using a sensor that is placed underneath a mattress. There are no leads or cuffs to connect to the patients, who have complete freedom of movement.

"In the past two years, the company has made significant progress in establishing the clinical value of its system, as well as in sales and marketing," said Ittai Harel, general partner at Pitango and co-chair of EarlySense.

"The financing today will be used to support global commercialisation efforts by the company." (Reporting by Tova Cohen)

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