Neurosynaptic Communications raised an undisclosed amount in Series A round of funding from healthcare focused venture fund – Healthquad, Indian Angels Network and Axilor Ventures. In addition to this, it was also announced that Healthquad and IAN will be joining the board of the company.
The company says it plans to utilise the investment for International Certifications and launch of its products and to scale international business in Africa and South / South East Asia and further penetration across India.
Increased technological improvement, rise in the incidence and prevalence of chronic diseases along with increase in aging population has enhanced demand for remote monitoring. Global telemedicine market is expected to hit the US$ 35,500 Mn mark by 2020 at a CAGR of 15%.
With the continuing struggle in both, rural and urban, populations to access quality healthcare, Neurosynaptic offers scalable e-health and m-health technology solutions that bring together products, partners and processes in the healthcare delivery ecosystem.
Speaking on the announcement, Sameer Subhash Sawarkar, CEO at Neurosynaptic said, “Access to basic healthcare is a daunting challenge in rural India and most of the developing world, and there is a dire need for a solution. We have been relentlessly working at building solutions that are most beneficial for people who have limited or no access to quality health care. Our product, ReMeDi®, connects the entire fragmented ecosystem for last-mile delivery and offers several features like workflow configuration, and the latest sensor & wireless communication technologies.”
With an aim to co-create a healthier surrounding, Neurosynaptic has demonstrated the impact of technology solutions at a large scale in tackling this global problem.