NuvoAir combines remote monitoring technology, proprietary biomarkers, a data-driven infrastructure, and clinician care teams to deliver continuous, relationship-based care for complex patients, initially targeting respiratory diseases such as COPD and asthma. The company recently launched the Aos inhaler sensor as part of its service offering. NuvoAir also offers a decentralized clinical-trials solution that brings trials into patients' homes to reduce burden on patients and study sites. It partners with health plans and risk-bearing providers with the goal of aligning incentives under a value-based care framework. NuvoAir will use the proceeds from its latest financing to expand its platform and team, accelerate launches of clinical services with providers and Health Plans, and launch new clinical trial partnerships globally. The company has offices in Boston, MA, and Stockholm, Sweden. Financially, NuvoAir completed an extension to its Series A that brings the round total to $25 million. NuvoAir builds a digital care platform for respiratory illnesses that combines a Bluetooth-enabled spirometer, an inhaler-attached sensor, Fitbit integration and a machine-learning cough-monitoring app. The product is used by health plans, insurers and healthcare systems to manage severe respiratory patients and reduce care costs, and is licensed to pharma and CROs for decentralized clinical trials on a per-user basis. The company reports 500% growth in Q1 2021 and claims its solution reduces urgent consultations by more than 39%. NuvoAir says more than 500 million people suffer chronic respiratory diseases and that managing these conditions costs roughly $300 billion annually. The startup plans to use its new funding to accelerate expansion in the U.S. and Europe, develop new products and services, and support its partner and customer base for decentralized clinical trials. NuvoAir develops digital therapeutics for respiratory diseases, including a smartphone-connected spirometer and software called Aria. Aria sends patients personalized care suggestions based on their condition and its algorithms provide insights to patients, physicians and pharmaceutical companies. The company has collected more than 500,000 spirometry tests in the last three years that feed its machine-learning models. NuvoAir aims to make respiratory diseases measurable and more treatable and plans to bring new smart devices to market. Established in 2015, NuvoAir recently closed a $3 million financing round led by Industrifonden with participation from existing investor Investment AB Spiltan. CEO Lorenzo Consoli said the investment and partnership can significantly advance the company’s focus on digital therapeutics and improve physicians’ clinical decisions. Pond Healthcare Innovation makes Air Smart, a small portable spirometer that connects to a smartphone via the audio jack and lets users export data to share with physicians. The company sells the device direct to consumers for €69 and reported selling thousands of units last year across 20 countries. Air Smart can export results as PDFs for physicians, holds a CE mark, and currently has no FDA clearance. Pond was founded in 2014 as a design firm and pivoted into medical devices in 2016 after working with Novartis. CEO Lorenzo Consoli joined from Novartis to lead Pond. The company plans to use new funding to build its team, continue product development, step up commercialization, and do more with the lung-health data Air Smart collects.

Total raised

$28M

Funding rounds

4

Latest round

Series A

Latest activity

Jan 2022