Founded by CEO Joyce Chee, COO Darius Sim and CMO Edoardo Stazi, eVida focuses on developing products and software that specialises in healthcare Big Data and Z-Wave, digital wireless home automation standard.
The first generation of eBOS, their flagship product, is currently undergoing trials at healthcare institutions across Singapore. A bed sensor built for use in hospital wards, it prevents bed sores in bedridden patients and falls by anticipating movements or detecting a lack of it, alerting nursing staff in both cases.
In the first half of 2015, eVida plans to develop the second generation of eBOS, introducing components designed to gauge incontinence (i.e. involuntary excretion of bowel or urine contents) and data analysis. This aims to improve hospital ward efficiency among nursing staff.
Additional funding of $528,000 is expected to follow. According to Joyce Chee, CEO and co-founder of eVida, funding will go towards investing in the second generation of the eBOS (bed occupancy sensor), as well as marketing and advertising.
Chee explained “Consulting a hospital on building a smart ward using our smart home system, we realised the lack of feasible sensors to detect bed occupancy. We saw a gap in the market and created eBOS to meet that need.”
With the rise in the number of digital health and medical technology startups in the industry, there’s been growing interest from investors. “Venture capitalists healthcare funding has experienced more than a five fold increase since 2011,” said François Cadiou, CEO and Co-founder of Healint, a medical technology venture firm.
With increased investor confidence, the digital health landscape comprises electronic health records, analytics and Big Data, digital medical devices, wearables, population health management, and consumer health engagement.
US-based VC firm Wavemaker Partners invested in Ayannah, a Filipino-based digital payment venture. Healthcare startup Healint, a Singaporean data analytics company, is its first healthcare venture investment in Singapore and reflects a larger trend.
Clingy and MyDoc are some examples of Singaporean health startups that received funding in 2014. According to Michael Birnbaum, an EIR and mentor at NTU, “Health IPO exits, to many surprises, have outperformed other sectors such as energy and tech in the last five quarters.”