Turkish healthcare startup Inofab Health has raised $1 million in fresh funds from three local investors; including Re-Pie Asset Management Co. (First Diversified Venture Capital Investment Fund), Teknoloji Yatırım, and Fark Labs, it announced in a statement on Thursday.
Founded in 2014 by Merthan Öztürk and Kerem Yaşar, Inofab Health develops and sells different products in the respiratory care domain to help patients (and healthcare professionals) understand, track, and manage lung health.
It’s personal spirometer (lung monitor), Spirohome Personal, enables asthma, COPD (Chronic obstructive pulmonary disease), and cystic fibrosis patients to quantify their lung health with spirometry tests at any time. The device that is priced at about $340 (€279) is the world’s first personal ultrasonic spirometer and comes with clinical accuracy, claims the startup on its website. It is complemented by a mobile app that helps the patients perform the test and then track their results or share them with their physician.
Inofab Health also sells advanced spirometry solutions (both spirometer and software) to health professionals and clinics to help them diagnose, track, and manage their patients’ lung health.
In a statement, the Turkish startup said that it provided its solutions to users in 50 different countries in 2020, and currently has sales partners and distributors in 15 different countries.
The statement also noted that due to the pandemic, remote patient monitoring in respiratory care has become an essential need, “With the latest investment, we aim to meet the needs in remote respiratory care by adding new products to our existing portfolio. SpiroCloud, a web-based portal that empowers the communication between healthcare professionals and patients is already being used in the market with new modules in the pipeline. This year, we will present two new products to the market; SpiroClinic, a respiratory diagnosis device to be used in clinical settings, and SpiroHaler, a smart inhaler attachment to monitor the medication use in spirometers,” said the startup.
Inofab Health also plans to use a part of the investment to launch its solutions in the North American market to become a global player in respiratory healthcare.