New Zealand medtech Wellumio raises $9.75 million
New Zealand-based medtech firm Wellumio has secured $9.75 million in funding. The capital injection aims to support the company's expansion and further product development.
New Zealand medtech company Wellumio has raised $9.75 million (approximately NZ$16 million) in a funding round, according to Tech in Asia. The funds are intended to support the company's growth and product development.
Wellumio's technology focuses on remote monitoring of the heart. The company's solution enables real-time tracking of patient conditions without the need for frequent visits to healthcare professionals, aiming to improve patient care and reduce healthcare costs.
With the raised capital, Wellumio plans to strengthen its global presence and continue investing in clinical research and product development. The company seeks to enhance patient treatment and provide solutions for healthcare professionals amidst a challenging global landscape.
Founded in 2018 by Michael Kenihan and Richard O'Sullivan, Wellumio reportedly has a significant user base worldwide.