Pond Healthcare Innovation announces euro 2.0m seed funding
Pond Healthcare Innovation AB, the company behind the Air Smart Spirometer, announced today a seed round of EUR 2M from Spiltan. Håkan Sjunnesson, Spiltan’s Investment Manager will join the Company’s Board of Directors, alongside Dan Mangell and Lorenzo Consoli. The financing will be used to strengthen the team, the product development and commercial efforts.
The Air Smart Spirometer is the first ultra-portable spirometer connected to a smartphone. Launched in Europe in 2016, Air Smart has very quickly reached strong success in the market, with thousands of units sold among physicians and patients in over 20 countries. The device won numerous design awards including the Red Dot Award and the design S award in 2016. Air Smart could measure all the parameters that a professional spirometer can measure, but at a fraction of the cost, just 69 Euro. Spirometers have been traditionally bulky and complex devices used in hospital settings by trained personnel. Air Smart has demystified spirometry bringing it directly to the hands of patients and physicians worldwide.
"Due to the compelling design, affordable price and ease of use, Air Smart has rapidly gained a leadership position in the fast-growing market of portable spirometers," says Håkan Sjunnesson. "We are very exited to work with Lorenzo and his talented team to build a global company with the vision to improve the life of people with lung problems.”
“Spiltan is a perfect match for us, because they are a long-term investor who really understood and married our vision” says Lorenzo Consoli, CEO of Pond Healthcare Innovation. “We want to empower respiratory patients to live a more active life, and the development of Air Smart is the first step to achieve our vision. Whether you have cystic fibrosis, Asthma or COPD, understanding how and why your lung health changes over time is extremely relevant. With Air Smart patients can check their lung health anytime and adjust their medication and lifestyle if needed. More importantly” continues Lorenzo Consoli “Air Smart bridges the communication gap between patients and physicians, thus improving the quality of care. Patients can share their lung health history with their physicians in advance of their visits enabling much better clinical decisions”.
Respiratory diseases cause an immense worldwide health burden and the cost to society is worth billions of dollars. It is estimated that over 300 million people suffer from asthma, more than 200 million people have chronic obstructive pulmonary disease (COPD). COPD alone, each year, kills 4 million people prematurely and is the fourth leading cause of death worldwide and the numbers are growing. Air Smart can make a real difference to the millions people suffering from respiratory diseases.
Air Smart Spirometer is a CE-certified, class IIa medical device and developed according to ISO 26782:2009.
About Pond Healthcare Innovation AB
Headquartered in Stockholm, Sweden, Pond Healthcare Innovation strives to empower respiratory patients to live a more active life by providing the right insights at the right time and by improving patient-physician dialogue. In 2016 they launched Air Smart, the first ultra portable spirometer connected to a smartphone that lets you measure your lung health in seconds, sold at a fraction of the price of standard spirometers. For more information please visit the company website www.smartspirometry.com.
About Investment AB Spiltan
Investment AB Spiltan is an investment company with a total portfolio of about two and a half billion Swedish crowns, mainly invested in profitable private and listed companies run by talented entrepreneurs. Through long term, personal commitment and entrepreneurship Spiltan creates conditions for strong growth and returns. Spiltan has approximately 2,300 shareholders and is traded on the Alternative List (www.alternativa.se ) of Pepins Group AB (www.pepins.com). Further information is also available on www.spiltan.se.
Source: Pond Healthcare Innovation AB