COVID-19 has put respiratory wellness on the forefront of many minds. This week’s startup, NuvoAir, offers a platform designed to support people with complex respiratory conditions like Asthma and COPD. By using healthcare gadgets and a smartphone app, the company is able to roll out specialized personalized care.
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⚾ The Elevator Pitch:
You might well already use sleep trackers to track your sleep. Most of the everyday smartwatches and other gadgets have this basic feature. Turns out, you can run machine learning to even track your cough overnight and detect changes in the way you cough. This data could be life-changing as, with ongoing analysis and illness detection, patients will be able to manage their respiratory health at home.
This is the part NuvoAir builds upon. The company uses both an app to listen to your cough and a Bluetooth-enabled spirometer that tracks lung function. Its business model is enabling healthcare systems, health plans, and insurance companies to reduce the cost of respiratory care and also gives helpful insight to help individuals control their chronic conditions.
👇 The Drop Down
Tech trend: Medtech
Traction: Raised $12M in Series A, launched clinical trials and offer 5+ trial solutions, Certified and approved medical devices, Featured on TechCrunch, Tech Funding News, and Mobile Health News.
Team: Venture fellows, healthcare professionals, and Business organizers
Lorenzo Consoli (CEO) | Erik Lystedt (CFO) | Christina Nelson (CTO)
🔍 Why we like it
- 📈 Their idea is unique…and effective
More than 500 million people suffer from chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), cystic fibrosis, and asthma. And this specific market costs around $300 billion a year, roughly diagnosing only 39% of the patient. NuvoAir wants to tap this market by creating a more sustainable AI solution while reducing the cost of the treatment. By analyzing different readings at home, customers can self-diagnose conditions and opt for better healthcare.
- 👫 Personal experience is the inspiration
NuvoAir is not just a company inspired by a business idea, the founder and CEO, Lorenzo Consoli was also an asthma patient in his childhood. Given such, he's naturally been drawn to respiratory health and has successfully designed a system to help patient measure their day-to-day healthcare conditions. "Equipped with my professional experience and personal knowledge, I decided to take on the challenge of improving respiratory care," says Lorenzo.
- 🙌 They’ve already started clinical trials
NuvoAir recently raised $12million in series A funds and has already started clinical trials with 5 solutions. The funding helped them hire more talent, improve their current data – helping them experience growth of 500% in Q1 of 2021. Assorted with 15-peer reviewed publications and plenty of certificates, the company is excited to build an ecosystem with strong clinical evidence to facilitate both payers and providers.
🤝 Get involved with NuvoAir
- Connect with them on Facebook, Instagram, Twitter, and LinkedIn
- Check out the clinical trial solution
- They’re currently hiring, check the career page for open positions