Taiwanese smart thermometer startup iWEECARE has announced it has raised US$2.4 million in extended pre-Series A funding round. The round of funding was led by TransLink Capital, a Silicon Valley-based venture capital firm with focus on Asia the statement noted.
Other participating investors of the round include Taiwan’s National Development Fund, BE Capital, Taiwan Surface Mounting Technology Corp, NCTU Angel Club, Might Electronic, and existing investors Verge HealthTech Fund (Singapore) and Darwin Venture (Taiwan).
The fresh fund will be allocated towards fast-tracking marketing activities to address the demand for remote patient monitoring technologies in the US and China.
WEECARE is known for its flagship product Tem Pal, a small continuous temperature monitoring product which is already in circulation in China, Ireland, Japan, Thailand, and Taiwan as a solution to mitigate the risk of COVID-19 infection.
iWEECARE’s Co-founder and CEO Glen Tseng said: “Temp Pal received an overwhelming amount of inquiries for coronavirus use from the US and China earlier this year. The new funding will be used in accelerating our global footprint to satisfy the demands from these markets and ultimately improve patient safety and outcomes.”
TransLink Capital Co-founder Jackie Yang said: “Under the COVID-19 pandemic and shift to remote patient monitoring, we see huge potential for iWEECARE to expand globally. We hope the new investment can help the brand to develop and establish an international presence.”