Wearable Tech Co. HealthWatch Raises $20M

January 3, 2017 | Israeli startup HealthWatch, which has developed smart garments that monitor the wearer for ECG and other vital signs and send the information in real time by smartphone, announced that it had raised $20 million from Shijiazhuang Yiling Pharmaceuticals. The Chinese company will pay $15 million for a 23% stake in HealthWatch and pay another $5 million for the rights to sell the company’s Master Caution device in China. Master Caution comprises an embedded processor to collect, store and process data together with an accelerometer, infra-red sensor and Bluetooth capability. Approved by the U.S. Food and Drug Administration and Europe’s CE mark, the device monitors ECGs as well as activity, respiration and skin temperature. Its sensors are interwoven into garments so that they appear as design elements rather than a monitoring device. The startup was founded by Yoram Romem and Amos Shattner, and had previously raised one round of capital. HealthWatch will use the proceeds to add a further 20 staff to its current payroll of 18. Read more about the company in our recent story.