OxiWear was the proud recipient of CIT GAP funding in June 2021. The Center for Innovative Technology (CIT) is a non-profit organization that provides investment in companies through the Virginia Innovative Partnership Authority (VIPA).
The organization invests in next-generation technologies and technology companies through commercialization, capital formation, and market development initiatives.
“Currently, there is no other device available to continuously monitor oxygen levels. OxiWear is a game changer for those affected by the complications of pulmonary hypertension, and could be the difference between safety and danger,” said Tom Weithman, Managing Director of CIT GAP Funds. “Shavini and her team are in a great position to expand and reach more medical departments, nursing homes and more locations serving patients with PH. We are excited to support OxiWear in their endeavors and lifesaving mission.”
CIT GAP supported OxiWear’s mission to provide continuous monitoring for patients suffering from silent hypoxia, a potentially life-threatening medical situation that could increase a patient’s risk of stroke and heart attack if not caught in time. The CIT GAP funding will be used to further invest in product-development and clinical testing, bringing OxiWear closer to launch, for those in need. For more information, visit: www.cit.org.
The OxiWear team appreciates the support and investment from CIT GAP and looks forward to sharing its successes with the organization brought about by their belief in mission.