On November 17, OxiWear announced it successfully closed a pre-seed funding round at $1.25M for its newly developed ear-wearable pulse oximeter. OxiWear offers non-intrusive, continuous oxygen monitoring (as opposed to batch data or spot readings) and can be worn 24-hours a day without obstructing daily activities. This was a major milestone for the company after it experienced delays in product development in 2020. The pre-seed funding will allow OxiWear to finalize product development, conduct in-person clinical testing, and submit its FDA application. The company is planning for a mid-year 2022 consumer launch.
The press release was published with Cision /PR Newswire. In case you missed it, you can read the full release here.