Spun out of Boston University by Allied Minds in December last year, Signature Medical has secured $2.5m in series A funding from investors including Bose.
Signature Medical, a US-based wearable devices spinout of Boston University, raised $2.5m in a series A round today that included audio company Bose’s corporate venturing arm Bose Ventures.
Early-stage investment fund Riot Ventures also contributed to the funding round.
Founded in December 2016, Signature Medical is working on wearable devices that monitor patients remotely and in real time. The technology combines acoustic signature analysis with artificial intelligence and a cloud-based platform.
The spinout’s lead product, AcoustiCare, is aimed at patients suffering from conditions such as heart failure. The funding will go towards product development.
Signature Medical was formed by commercialisation firm Allied Minds, based on research at its partner institution Boston University’s Department of Electrical and Computer Engineering.
Jill Smith, president and chief executive of Allied Minds, said: “We are pleased to have secured participation by Riot and Bose in the funding for this high potential company, consistent with our desire to attract investment and validation from strategic and financial partners earlier in the investment life cycle where we see benefits from doing so, as we have done recently with our HawkEye 360 and BridgeSat series A rounds.”
Steven Romine, managing director of Bose Ventures, said: “We are excited about Signature Medical’s innovative use of audio to help heart patients with their recovery, and we are pleased to support Signature Medical in their efforts.”
