Continuing on its current investment spree, Chinese internet giant Tencent has now led a $750K seed funding round for Tissue Analytics, a tele-medicine app that guides you to take care of chronic wounds.
Existing investor DreamIt Health — the Philadelphia-based accelerator program which Tissue Analytics is an Alumni of (the startup got a pre-seed fund from the accelerator program), also participated in the round along with numerous other angel investors from Philadelphia.
Tissue Analytics is a 24*7 available telemedicine tool that helps you to treat chronic wounds such as bedsores and diabetic ulcers with a a radiology-style approach.
In order to do that, the application prompts you to take an image of the wound which is then analyzed for a proper treatment suggestion. The suggestions comes straight from the experts team who typically manage these sorts of patients in nursing homes and home care groups.
Kevin Keenahan, co-founder at Tissue Analytics-
We are a wound imaging and telehealth company, predominantly. So we look at a very small sub-set of medicine called chronic wounds. This field is sort of archaic in the way patients are managed, it’s been a very traditionally underserved area of medicine. We’re trying to modernize it by increasing the care co-ordination capabilities but also find a more objective way to evaluate these wounds.
The company notes that that this round of funding will help them conclude an ongoing study that will evaluate the economic impact of its systems. This study will help Tissue Analytics determine total wound healing time, the rate of wound closure, infection rates, amputation rates, and healthcare expenditures, among many other indices.
While U.S. continues to be a major focus for Tissue Analytics as of now, its founder Kevin is keen on exploring opportunities in emerging markets like India. He says,
One of the aspects we’re particularly excited about is the tremendous impact that diabetic ulcers have in the developing world. We are really excited in working with some of the companies in [Tencent’s] portfolio that could help us start to look at the developing world as a real market.