CliniCloud secures $US5m in venture capital funding

Consumer health tech start-up, CliniCloud, has closed a $US5 million funding round led by Tencent and Ping An Ventures ahead of the global launch of its first product, a connected medical kit for the home.

China-based Internet services company, Tencent, led the seed round. Ping An Ventures, the venture arm of insurance and banking conglomerate Ping An, was the other major investor, along with musician, D.A. Wallach and investor, Kosaku Yada.

The funding will be used to accelerate the production and roll-out of CliniCloud’s first consumer product in the coming months.

US retail giant, Best Buy, is to carry CliniCloud’s connected medical kit in the United States and Canada. CliniCloud chief executive, Dr. Andrew Lim, said the retail partnership will ensure CliniCloud is accessible to all.

The product works as an at-home medical solution for patients by allowing users to record basic vital signs such as temperature, heart and lung sounds. The readings can then be sent to their physician of choice or the patient can consult a network of on-demand medical professionals.

“The stethoscope and thermometer are gateways to critical information that helps physicians diagnose illness in patients. By digitising them and connecting them to a powerful apps and network of medical professionals through our partnership with telemedicine partners such as Doctor On Demand, we are empowering every parent and carer to play an active role in healthcare,” said Lim.

Tencent chief exploration officer, David Wallerstein, said the kit can empower users by providing them with new health choices and resources.

“The mobile Internet is now ushering in a new era for health diagnostics. CliniCloud has taken a core tool for family physicians — the stethoscope — and brought it into the modern era. By allowing health practitioners to remotely listen to an individual's lungs or heart, issues can be identified, treatments discussed, or concerns put to rest. Diagnoses can occur as frequently as the user desires and with great convenience,” he said.