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Scanadu secures USD35m in Series B funding

Silicon Valley-based medtech company Scanadu has received USD35 million in Series B funding round led by Fosun International and Tencent Holdings Limited, with participation from China Broadband Capital and Iglobe Partners of Singapore.

A-round investors Relay Ventures, Redmile Group, Ame Cloud Ventures and Three Leaf Ventures, an affiliate of The Broe Group, also participated. Scanadu has now raised USD49.7 million in total funding to date.

“We continue to build out our family of products and move down the path to regulatory clearance in the US and China,” says Scanadu founder and CEO Walter De Brouwer. “Scanadu’s mission has always been to give eight billion people access to quality healthcare via their smartphones.”

This month Scanadu will complete shipment of their first set of investigational Scanadu Scout devices to their more than 8,000 Indiegogo supporters. The device measures for heart rate, core body temperature, blood oxygenation, and cuffless and calibration-free systolic and diastolic blood pressure in one scan in seconds, and shares those results to an app on Android and iOS smartphones. Scanadu is currently working toward FDA submission and approval for that device, as well as Scanadu Urine (formerly known as ScanaFlo), an at-home urine test that similarly shares important health data to your smartphone.

"Fosun built Fosun Shanghai pharmaceutical’s business from the ground up, and we have long been committed to innovations in healthcare,” says Guao Guanchang, chairman of Fosun International. “When we looked at Scanadu, we saw a company solving a problem that affects virtually everyone. Our investment in Scanadu aligns with our deep interest in leveraging the magic of the mobile Internet to improve ties across the hospital, pharmaceutical and health insurance industries.”

"Advances in health technology are bringing powerful capabilities to understand our bodies via our smart phones. These trends will revolutionise health care over the long-term,” says David Wallerstein, chief eXploration officer and senior executive vice president of Tencent Holdings Limited. “Scanadu is leading this trend with innovative and consumer-friendly diagnostic products that deeply leverage the power of smart phone and cloud technologies. We're excited to join the Scanadu team on this journey."

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