London-based Log my Care secures €660K to digitalise social care

Log my Care, the app-based software for managing social care delivery, has secured new early-stage funding from RYSE Asset Management, the digital health and medtech specialist investment firm, bringing its total raised to around €1.1 million. Log my Care was recognised for its social impact in care, a sector that is facing enormous challenges with an ageing population, financial constraints and now the COVID-19 crisis.

Founded in 2017, Log my Care’s cloud-based care planning software enables care homes to take all their admin and planning online. Its user base has doubled since the start of the year and the app is in use across hundreds of care services by thousands of carers, who in total have recorded nearly 30 million care logs. 

In response to the pandemic, the Log my Care team rapidly developed tools to support front-line workers in the social care sector. A real-time COVID-19 symptom tracking tool helps monitor and detect early symptoms, alerting Care Managers and displaying critical information on a simple dashboard. A track-and-trace tool enables users to create clusters of carers and service users that are easier to monitor. If a person starts showing Coronavirus symptoms, it is then easy to identify those most at risk and who need to be isolated and tested.

In a sector where 80% of care homes are still using paper records, Log my Care also enables Care Managers to keep track of what is happening in the care service remotely, which has become crucial for care staff who themselves have had to adapt to remote working conditions.  

The core system of Log my Care and the tools developed in response to COVID-19 are completely free to use for all registered UK care homes and care agencies. Two optional premium modules with enhanced features are available for a monthly subscription. 

Sam Hussain, founder of Log my Care, commented: “The social care sector was facing enormous pressures even before COVID-19 hit. It is also a sector that has been left behind when it comes to technology. The pressure was already there, but when COVID-19 hit, many care settings realised that they simply had to address their data systems. Again, and again, Care Managers on the front line have told us the most significant benefit of using Log my Care was the time saved on paperwork and administration, which has a big impact on costs as well as care quality. It is also clear that identifying COVID-19 cases early and reacting quickly is crucial in preventing further outbreaks, so we wanted to build tools that will help care settings do that at the earliest opportunity.

Log my Care is planning on using the new funds from investors including RYSE Asset Management to build more tools to help digitalise and streamline social care, as well as expand its user base to reach thousands of care services.   

Dr John Lee Allen, RYSE Asset Management LLP, commented: “We are delighted to be supporting the dedicated team at Log my Care in creating the future of distributed health and social care delivery. With a strong management team, and by empowering both staff and clients, this innovative company has delivered real value during the COVID-19 pandemic. 

“Log my Care responded to the COVID-19 pandemic by providing critical insights into how outbreaks can be managed by front line carers and care managers. The pandemic has taught us that the future model of health and care is decentralised and data driven – we are supporting Log my Care in delivering value and measurable social impact.

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Innovation Insider: Intensive Care

Greater agility, better infection containment, fast diagnostics and telemedicine: Meet your healthcare providers post Covid-19

When the coronavirus surfaced in China in December 2019, it set off a domino effect worldwide – with the number of active cases snowballing rapidly. 

By February 2020, the daily increase in people falling ill with Covid-19 was in the thousands and -though international borders closed down and households went into lockdown – active cases skyrocketed in June to approximately 130,000 new cases a day, according to Worldometer. 

Major global cities from New York, to London, and Mumbai found their healthcare systems direly overwhelmed by the tsunami of symptomatic citizens. Many countries tried to “flatten the curve” of the contagious infection to manage the unprecedented overload on public health systems, and to distribute the demand for medical care, intensive care unit beds, and ventilators over a longer period. 

This large-scale global pandemic made healthcare – an industry traditionally slow to adopt innovation because of cumbersome regulatory and governmental pathways, low IT budgets, legacy systems, lack of trained personnel, and more – ripe for disruption. Technology entrepreneurs, unfettered by politics, bureaucracy and public financial constraint, entered the mainstream for the first time in order to triage the chaos raging in medical care in the face of Covid-19. 

Israel differs from other western countries in that it integrated tech into its medical system years before the emergence of the coronavirus. Israel stands at the vanguard of healthcare innovation, boasting a 100% fully digitized health system: its citizens, fully covered by national health insurance, can schedule medical appointments, check laboratory test results, and generally manage their health online. 

Israel also serves as an optimal beta-testing site for novel ideas as its world renowned medical and research institutions (including Sheba Medical Center, the Weizmann Institute, the Rambam Health Care Campus, and Hadassah Hospital) and health providers (Clalit and Maccabi) have developed globally-acclaimed pioneering digital health initiatives for millions of patients. These systems are based on one of the world’s most vast databases of lifetime personalized patient health records, which are released for therapeutic and research use by the Israeli government. For example, an affiliate of one such institution, the Migal Galilee Research Institute, MigVax is developing an oral Covid-19 vaccine that does not contain any form of the virus itself – creating a safe template for preventing future strains of the coronavirus. 

The extreme circumstances of the pandemic accelerated global healthcare’s digital transformation, with governments and regulatory bodies following suit to loosen rigid bureaucratic processes. The digital penetration of healthcare is here to stay – not just in how medical professionals contain the virus and prevent its spread, but in how they interact with, diagnose, and treat patients across the board. 

A Physical Transformation 

The first long-term changes the world will witness in healthcare will be physical: greater agility in how hospitals and equipment are structured is now a prime focus, according to McKinsey. To optimize infection containment and control, patients will require single rooms instead of being separated by curtains, elective care can be postponed or relegated to the patients’ homes or specialized centers, and hospitals’ ability to seamlessly convert regular beds to crucial care beds will be prioritized. In addition, production of medical equipment from ventilators and masks to spare parts will be decentralized: many will be 3D printed on the spot, as was done in Italy. In Israel, cutting edge 3D printing technology allowed Nexa3D to quickly mass produce professional-grade face shields for frontline workers and provide them to hospitals at affordable prices. Since the Covid-19 virus is believed to survive long periods of time on various surfaces, and hospitals are hotbeds of infections, there is a strong need for unrelenting and meticulous disinfection of medical facilities. Juganu developed a special UV-C light sterilization feature for hospitals and labs that can kill over 90% of viruses and microbes, without penetrating or damaging human skin. Two more Israeli companies that are rushing in to disinfect crowded indoor spaces are Aura Smart Air, which screens and targets Covid-19 microbes in the air filtration system, and BioFence, which developed coatings for walls and partitions based on an innovative polymer that eradicates bacteria and viruses. 

Finally, SaNOtize serves as a preventative defense for the essential health practitioners coming into contact with infected patients: the nitric oxide solution, sprayed into the nose, utilizes antimicrobial and immunomodulating properties to neutralize viruses trying to enter the respiratory system. 

The second long-term changes the world will witness in healthcare will be virtual, as Covid-19 brought telemedicine as a delivery paradigm for medical care center stage. In the U.S. preceding the pandemic, telemedicine adoption by patients and physicians was slow to uptake with only 18% physician participation. It dramatically increased over the past few months to over 50% physician adoption, Fierce Healthcare reports. 

Healthcare workers are migrating essential in-person services online, out of the need to minimize contact with infected patients, including: diagnostic testing, treatments, monitoring, and even administering medication! These services are enabled by the enormous rise in digitized patient records globally, providing the datasets necessary for artificial intelligence-based systems to significantly improve medical performance, according to Forbes.

One example is a platform by Diagnostic Robotics, which uses a questionnaire triage system to analyze symptoms and generate a personalized risk profile for Covid-19, guiding medical professionals to the most urgent cases. Data.World launched a Covid-19 Data Resource Hub, revolutionizing how individuals and organizations process global coronavirus trends. Helping Pfizer obtain FDA approval for a Covid-19 drug in record time (under a week), CytoReason aggregates proprietary data from pharmaceutical companies across the industry and uses it to train its computational models of human disease. 

Neura integrates data gathered from mobile devices, including the detection of infection chains, to optimize government and healthcare cooperation. 

Providing contactless diagnostic testing is VocalZoom, which developed radars that read nanovibrations of the skin from a person’s pulse to capture heart rate variability remotely, allowing non-invasive and quick screening of potential Covid-19 respiratory symptoms en masse – even among those appearing asymptomatic. 

Helping medical teams communicate with patients while simultaneously reducing direct contact is the “CoRobot” (Corona Robot) produced by Temi, which can be operated remotely to perform tasks like measuring patients’ temperatures, delivering medicine or antibiotics to them, and even deliver meals. ElliQ, created by Intuition Robotics, provides isolation assistance and companionship for the vulnerable. 

For patients recovering at home or in quarantine wards, TytoCare’s device allows physicians to perform remote medical exams, including lung exams, and monitor patient progress without exposure. Similarly, K-Health connects smartphone users with board-certified doctors to discuss symptoms and receive care from home. 

Medisafe provides physicians with remote visibility into the medication management of homebound patients from its personalized mobile health platform. DreaMed offers a remote insulin therapy management system, using AI, for diabetes care at home and facilitates patient-doctor communication. 

Telemedicine is turning into the “front door” for health services. The patient’s journey will begin digitally and remotely and will then be redirected to required care by online professionals, reducing non-essential contact between healthcare personnel and nonacute patients. 

Time Transformation 

The last long-term change the world will witness in healthcare will be the trend towards making diagnostics more time-efficient using machine-learning technology. Israeli technologies are leading the way in formulating technologies that provide rapid testing results. 

For example, MeMed can decipher within two hours whether an infection is bacterial or viral. Barcode Diagnostics can determine the efficacy of multiple chemotherapy drugs on a patient’s cancer, according to the patient’s specific DNA barcode. 

Sight Diagnostics provides an accurate point-of-care Complete Blood Count (CBC) in 10 minutes, eliminating the need to transport infected samples to labs for results – also reducing the risk of further infection. 

The following three companies automate diagnostic testing, optimizing medical performance. PulmOne created the first portable and complete Pulmonary Function Testing machine, providing accurate, repeatable, and fully automatic measurements of total lung capacity. 

Scopio automates the imaging of full microscopy samples into high-resolution scans that can be shared digitally and viewed by other health care professionals remotely. Its built-in AI tools classify cells and compile a report of the results, accelerating the diagnostic process. Finally, Zebra Medical Vision uses healthcare provider datasets and image processing algorithms to automatically detect abnormalities (including Covid-19 findings) on standard, contrast and noncontrast, chest CT-scans. 

Mitigating the risk of all of the aforementioned medical devices and clinical networks is CyberMDX, which safeguards real-time data on device usage, performance, and inventory. 

Though the healthcare industry is often cautious regarding the adoption of technological advancements, the Covid-19 pandemic has catapulted hospitals from hotbeds of infection transmission to incubators of innovation. The world can be hopeful that leaps forward in the digital healthcare revolution will be able to leverage vast datasets and AI to predict future outbreaks and create mechanisms to suppress them before they spread.

About the Author
Ariel Krause, Medical Investment Analyst
Natalie Milstein assisted in writing this article

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It breaks my heart to have to write this post but I’m not giving up on this mission – a read for technical founders who care about Asian representation

It breaks my heart to have to write this post but I’m not giving up on this mission. For the past 10 months, I’ve dedicated my life to building a platform where Asians can represent their unique story, show their personality and transcend stereotypes with the end goal of finding meaningful connections. In short, it would be a video dating app that celebrates the Asian experience.

I was determined to build this platform because I am a product of immigrants who was raised on western media and its negative portrayal of Asians. I’m doing this because I’m still hurting and recognize that we, the collective Asian community, are longing to heal from the generations of ancestral trauma and internalized racism.

We gathered a small group of talented and passionate individuals with the same passion, values, drive and mission to improve the lives of Asian individuals, and were just 2 weeks away from releasing the beta. Over 900 people have signed up to be beta testers and there was genuine excitement and support in the community about this product and our mission.

This all ended abruptly just a few days ago when our CTO was forced to pull out of the project due to unforeseen family reasons and extenuating circumstances. Now, we are left with 900 individuals who’ve been eagerly and patiently waiting for the app, an app that’s about 2 weeks away from beta stage completion and a small group of passionate individuals who want nothing more than to offer a better dating experience for Asian individuals. We’ve come to a standstill.

But we’re not giving up here. We’ve come too far and there is too much at stake – the possibility of helping Asians lead happier lives. As difficult as it was to find our original and amazing CTO, we’re again looking for a talented CTO and co-founder to continue our mission.

The app is built on Firebase and Flutter, and it’s pretty great – again, near public beta shape. We’re looking for a CTO and co-founder who is a senior full-stack developer with experience in mobile development and startups. The most important quality, however, is that this person is passionate about Asian representation and believes in a mission like ours. The team is working remotely so it doesn’t matter where you are. You would join for equity. (So this isn’t a job post.) We have no funding and don’t have any grand illusions of getting any at this stage without users or revenue. But money is not what drives us and it’s not why we’re doing this.

And if you’re curious, yes, we’ve done the research, the surveys, the interviews, the prototyping, the alpha testing. I can tell you straight out: Will all Asians want to use this app? NO. Some Asians don’t want to date other Asians and that’s their prerogative. We’re not here to convert anyone. But do Asians in general want a platform like this? YES. The majority of Asians do see the benefit and value in dating someone who comes from a similar experience and upbringing. And just because you’re on this app doesn’t mean you’re not open to dating non-Asians. And is the app sticky? Fuck ya.

We believe this is an app that has the potential to become the “TikTok” of Asian dating – a cool platform that everyone wants to join. Yeah, nothing like this has existed before so it’s hard for some to even imagine it. But 900 of you and many more that have reached out with support can see that vision and that possibility. This will be a platform where Asians can proudly celebrate our identity, culture and story, and, by telling our stories with compassion, love and empathy, allow ourselves to find self-acceptance and even, perhaps, love.

If you believe in a mission like ours and you’re interested in possibly joining our team or know anyone that might be, please tell them about www.alike.dating and tell them to message me at hello@alike.dating. Fingers crossed. Thank you.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

[Ro in Silicon Republic] Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

New York-based start-up Ro has raised $ 200m for its telehealth platform and new online pharmacy business.

Read more here.

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[Ro in TechCrunch] Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

In three years Zachariah Reitano’s startup, Ro,  has managed to hit a reported $ 1.5 billion valuation for its transformation from a company focused on treating erectile dysfunction to a telemedicine service for a range of elective and urgent care-focused treatments.

Read more here.

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Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation

In three years Zachariah Reitano’s startup, Ro, has managed to hit a reported $ 1.5 billion valuation for its transformation from a company focused on treating erectile dysfunction to a telemedicine service for a range of elective and urgent care-focused treatments.

Through Rory for women’s health, Roman for men’s health and Zero for smoking cessation, Reitano and fellow co-founders Saman Rahmanian, and Rob Schutz, built a company that now treats 20 conditions, including sexual health, weight loss, dermatology, allergies and more, according to a statement from the company.

Image Credit: Zero

Ro also has a new pharmacy business, Ro Pharmacy, which is an online cash pay pharmacy offering more than 500 generic medications for just $ 5 per month per drug. And the company is getting into the weight loss business through a partnership with the private equity-backed healthcare company, Gelesis.

Ro’s also becoming a gateway into patient acquisition for primary care providers through Ribbon Health, and a test-case for the use of Pfizer’s Greenstone service, which provides certification that a generic drug is validated by one of the major pharmaceuticals.

The company’s $ 1.5 billion valuation is courtesy of a new $ 200 million investment from existing investors led by General Catalyst and including FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital, 3L and BoxGroup. New first-time investor The Chernin Group also participated. In all, Ro has raised $ 376 million since it launched in 2017.

“This new investment will further our mission to become every patient’s first call. We’ll continue to invest in our vertically-integrated healthcare ecosystem, from our Collaborative Care Center to our national pharmacy operating system. This is just the beginning of Ro’s patient-centered healthcare platform.” 

It’s all part of the company’s mission to provide a point of entry into the healthcare system independent of insurance qualifications.

“Telehealth companies like Ro are using technology to address long-standing healthcare disparities that have been exacerbated by COVID-19,” said Dr. Joycelyn Elders, MD, Ro Medical Advisor and Former U.S. Surgeon General. “By empowering providers to leverage their skills as efficiently and effectively as possible, Ro delivers affordable, high-quality care regardless of a patient’s location, insurance status, or physical access to physicians and pharmacies.”

Ro’s new financing is one of several forays by tech investors into reshaping the healthcare system at a time when patient care has been severely disrupted by attempts to mitigate the spread of COVID-19.

Digital medicine is assuming a central position in the healthcare world, with most consultations now occurring online. Reimbursement schemes for telemedicine have changed dramatically and investors see an opportunity to capitalize on these changes by aggressively backing the expansion plans of companies looking to bring digital healthcare directly to consumers.

That’s one of the reasons why Ro’s major competitor, Hims, is reported to be seeking access to public markets through its sale to a special purpose acquisition company for roughly $ 1 billion, according to Reuters.

Startups – TechCrunch

[Tyto Care in Becker’s Hospital Review] Baptist Health, Florida developer partner to bring virtual health services to new homebuyers

“The convenience and value of telehealth isn’t a secret after the last three months, and Baptist Health has led the way in giving consumers access to virtual care since 2016,” Danny Elfenbein, digital and consumer solutions director at Baptist Health South Florida, said in the news release. “This innovative ‘healthcare included’ approach with CC Homes and TytoCare will make healthcare more convenient than ever as we empower consumers to be more engaged in their own care.”

Read more here.

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[Zebra in Mobile Syrup] Telus Ventures partners with Zebra Medical Vision to advance AI-based preventative care

Telus Ventures is collaborating with Israel-based Zebra Medical Vision to advance AI-based preventative healthcare in Canada.

Read more here.

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[Zebra in Globe Newswire] Zebra Medical Vision collaborating with TELUS Ventures to advance AI-based preventative care in Canada

Zebra Medical Vision (https://www.zebra-med.com/), the deep-learning medical imaging analytics company, announced today it has entered a strategic collaboration with TELUS Ventures, one of Canada’s most active Corporate Venture Capital (CVC) funds. This collaboration includes an investment that will grow Zebra-Med’s presence in North America and enable the company to expand its artificial intelligence (AI) solutions to new modalities and clinical care settings.

Read more here.

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New €76 million VC fund Eir Ventures aims to leverage the untapped potential of health care innovation in Europe

The Life Science venture fund Eir Ventures today announced a first closing of its new fund of €76 million. With a strong base in the Nordic region and a team of experienced life science investors, Eir Ventures will invest in innovative European companies with products and technologies addressing significant unmet medical need and a potential to improve the life of patients. The fund is launched with support from a investor syndicate comprising Saminvest, the European Investment Fund (EIF), Vækstfonden, Novo Holdings, as well as additional private investors.

Eir Ventures has been set up by an experienced team of life science investors, including Magnus Persson, Stephan Christgau, Andreas Segerros as the Managing Partners, and Amanda Hayward as Special Partner. With offices in Stockholm and Copenhagen, Eir Ventures will invest in high return potential opportunities in the Nordics, Europe and the US. The fund will have a particular focus on innovations from the leading universities and incubators in the Nordics and has established collaborations with select Nordic Universities.

Magnus Persson, Managing Partner of Eir Ventures, commented: “In the current environment, where financing has become even more sparse and startups are struggling to fund development, healthcare innovation is more important than ever. We see great potential to bring some of the highly innovative treatments to patients with underserved medical needs, while also bringing outstanding returns to our investors.”

 

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