XPRIZE finalist raises $1.382 million
May 20, 2015
KITCHENER, Ont. – Cloud DX, a manufacturer of cutting-edge medical applications, and a finalist for the $10 million Qualcomm Tricorder XPRIZE, announced that it has raised $1.382 million from Vancouver BC-based B&M Miller Equity Holdings Inc. in a convertible debt round. This brings the start-up company’s total funding to $2.6 million, raised from angel investors in the U.S. and Canada.
“Cloud DX” is short for Cloud Diagnostics, a term coined in 2009 by CEO Robert Kaul (pictured) and trademarked in 2014. Cloud Diagnostics refers to a system that records biological data and uploads it to the cloud where it can be extensively analyzed to determine multiple medical readings simultaneously, allowing remote access to the results from any device or browser.
The company, which is based in Kitchener, Ont., manufactures the Health Canada Licensed Pulsewave Health Monitor, a “virtual medical device” that records a pulse wave signal from the wrist, uploads it to the cloud and derives medically accurate biological readings that can be securely accessed from any browser.
Results measured include heart rate, blood pressure, respiration and proprietary cardiac anomaly scores. These measurements are combined with readings from wireless oximeters, body-weight scales and thermometers to generate a comprehensive health profile that meets the requirements of telemedicine platforms, EMR systems and new reimbursement codes.
Their next-generation VITALITI Platform is an advanced set of health monitors, including a wearable that continuously records major vital signs; a unique wireless diagnostic module that combines an otoscope and a spirometer; a universal in-vitro diagnostic cassette and reader platform; and software that can autonomously diagnose medical conditions.
After three rounds of evaluation by a panel of distinguished judges, Team Cloud DX is one of only eight finalist teams remaining in the Qualcomm Tricorder XPRIZE, a global competition sponsored by the Qualcomm Foundation for teams to develop a consumer-focused, mobile device capable of diagnosing and interpreting a set of 15 medical conditions and capturing five vital health metrics.
“In Star Trek, Captain Kirk talks to his crew via a Communicator, has his medical officers assess conditions through a handheld Tricorder and synthesizes food and physical goods using his Replicator. This, of course, is science fiction, however, in some cases it is becoming science reality,” said Kaul.
“The $10 million Qualcomm Tricorder XPRIZE is a perfect example of these highly imaginative technologies coming to life, and we’re thrilled to have the opportunity to develop products that real people can use to improve their lives and health.”
For more information on Cloud DX and their Tricorder, visit www.clouddx.com.
For more information on the Qualcomm Tricorder XPRIZE, visit http://tricorder.xprize.org/.
About Cloud DX Inc.
Cloud DX Inc. was founded to develop and commercialize a set of technologies collectively called Cloud Diagnostics. The company manufactures the Health Canada & FDA-cleared Pulsewave Health Monitor, a virtual medical device that records a pulse wave signal from the wrist, uploads it to the cloud and derives medically accurate biological readings that can be securely accessed from any browser. Their next-generation VITALITI platform is an advanced set of health monitors including a wearable necklace that continuously records movement, blood pressure ECG, pulse oximetry, temperature, respiration and pulse rate. In August 2014, Cloud DX was chosen as a finalist for the $10M Qualcomm Tricorder XPRIZE. For more information, visit www.clouddx.com.