Health2Sync, a Taiwan-headquartered corporate that gives a diabetes tracking service, has closed a $6 million Series B spherical geared toward increasing its trade in Japan and different markets in Asia.
Health2Sync introduced on the TechCrunch Hardware Battlefield at CES 2014 and it necessarily gives a wiser manner to observe and arrange diabetes. Using a connector cable, Android and iOS units will also be hooked up to a glucose meter which then populates information throughout the Health2Sync app.
“The problems we are trying to solve are the lack of data around diabetes tracking, and the shortage of diabetes practitioners in this part of the world,” CEO and co-founder Ed Deng instructed TechCrunch in an interview.
“The services kicks in when data is the smartphone. It can run analytics and give feedback, while patients can log data like food and medicine intake and exercise,” Deng added, explaining that integrations with blood force meters is deliberate for the long run.
The effects are spectacular. The four-year-old corporate claims that the common blood glucose of high-risk customers diminished via 22 % when they used its service for 3 months. That, in flip, can lend a hand decrease headaches and cut back well being problems.
A diabetes affected person with Health2Sync team of workers at a neighborhood tournament in Taiwan
Health2Sync in the past raised a $three million Series A spherical in August 2016 and now this $6 million Series B will cross against expansions. While the app can be utilized anyplace, Deng mentioned the price is most powerful in markets the place it has native companions — together with pharmaceutical firms, insurance coverage companies and its personal neighborhood — and at the moment this is Taiwan and Hong Kong.
Japan is the arena’s 2d greatest marketplace for spending on diabetes care, in the back of best the U.S.. and is the reason why Health2Sync is making this growth. That’s the place its courting with Sompo Holdings, the Japanese insurance coverage company which led this Series B, will come into play.
“Sompo has a healthcare-focused digital subsidiary, and it understands how important taking solutions online can be,” Deng mentioned.
The duo hope to be offering specialised insurance coverage programs to diabetes sufferers in the long run. Existing backers Alibaba and WI Harper additionally took section in the investment spherical.
Asia as a complete is estimated to account for 60 individual of the arena’s diabetes, whilst the collection of victims reached a report 10 million in Japan ultimate yr. Beyond Japan, Health2Sync is aiming to develop its presence in Japan and it’s hiring its first staff in Malaysia and Indonesia because it plans a push into Southeast Asia. The corporate mentioned it has labored with public and personal organizations to cut back the cost of diabetes care in Taiwan, Hong Kong, Malaysia and Singapore.