HeraMED, an Australian digital maternity care company using smart devices and cloud technology, announced this week it has raised $1.98 million to support and expand near-term commercial opportunities in the US.

The proceeds of the Placement will fund working capital to support commercial deployments, pilots and integration of HeraCARE into large health systems, private clinics and a number of platforms in the US as well as Australia and Europe.

In a statement, HeraMED Managing Director and CEO Anoushka Gungadin said: ” We are very pleased to have secured $1.98 million in new capital, which enables HeraMED to continue executing against our commercial roadmap in the US where market interest and opportunity are accelerating.

“We are grateful for the support from new and existing investors to support our long-term vision and our ability to convert the growing pipeline of health systems and partners into tangible outcomes.

“This raise provides critical working capital and extends our cash runway as we focus on unlocking high-impact opportunities, building scale, and delivering value to mothers, clinicians, and shareholders alike.

HeraMED has a proprietary platform that utilises hardware and software to ‘reshape the doctor/patient relationship’ using its clinically validated in-home foetal and maternal heart rate monitor, HeraBEAT, cloud computing, artificial intelligence, and big data.

RESEARCH PARTNERSHIP

HeraMED recently entered a partnership with RMIT University and the Digital Health CRC focused on improving maternal health outcomes for culturally and linguistically diverse (CALD) women through AI-enabled predictive care.

The project, titled “New AI Models to Assess Risk of Pre-Term Delivery Linked to Socio-Economic Factors”, is grant-funded research with an overall project value of $1,245,300.