Wanda Health, a platform providing remote patient monitoring and virtual care services, has extended its latest funding round to £1.9m.
Based in Bristol with extensive operations in the US, Wanda Health’s platform collects health data from patients to proactively identify potential health problems, sending alerts to healthcare providers.
The company secured a £1m investment in December from deep tech and life science investment group EMV Capital.
The AIM-listed investor has extended Wanda Health’s round with an Enterprise Investment Scheme (EIS) investment of £834,000 alongside a £250,000 debt facility. The new funding will support the company’s continued expansion in the US.
“With the additional capital, we are well positioned to capitalise on the growing opportunities in the rapidly expanding digital remote monitoring market and to move closer to our mission of delivering the best-in-class intelligent virtual care,” said chief executive Tom Smith.
“With new funding in place and key partnerships progressing well, we are now scaling our impact across the US.”
Smith said the company’s existing contracts alone, once fully onboarded, will provide the firm with more than £2.6m in annual recurring revenue, after which it will seek a Series A investment targeting a “significantly higher valuation”.
“We are incredibly grateful to EMV Capital for their continued belief in Wanda’s mission,” Smith added.
EMV Capital chief executive and chairman of Wanda Health Dr Ilian Iliev said: “We are delighted to support Wanda as it continues to develop and build out its platform, customer base, market strategy, and leadership team.
“With growing demand and a clearly defined regulatory pathway, the company is continuing well on its growth journey. We look forward to seeing Wanda’s impact grow, as it scales its operations across the US, and beyond.”
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