Techstars startup Neopenda launches equity crowdfunding campaign for wearable newborn monitoring device
Published: Sep 12, 2018
CHICAGO, /PRNewswire/ -- Neopenda, a Chicago-based public benefit corporation, is now raising funds in an equity crowdfunding campaign with Republic to enable expansion of clinical pilots into additional regions and to bring awareness to their work.
Founded by Columbia University alumni biomedical engineers Sona Shah and Teresa Cauvel, Neopenda is currently developing a medical device geared toward underserved markets in Sub-Saharan Africa. The device, a wireless wearable vital sign monitor, measures pulse rate, respiratory rate, peripheral blood oxygen saturation, and temperature of critically ill newborns being cared for in hospitals in low-resource areas. The device enables healthcare providers in overcrowded and understaffed hospital wards to provide more timely and effective care to at-risk newborns.
"At Neopenda, we are laser-focused on involving our users and stakeholders in emerging markets in the design of our product and our business strategy. By raising funds on Republic, we have the opportunity to closely involve supporters at home in Neopenda's growth as well," said CEO Sona Shah.
"Republic is pleased to host this open investment opportunity in Neopenda and provide Neopenda with an alternative way of raising capital for their work," said Kendrick Nguyen, CEO of Republic.
Republic, founded in early 2016, is a fast-growing investment platform where accredited and non-accredited individuals can invest in innovative startups curated by a team of experienced industry alumni.
In what started as a classroom project, in the last three years, the Neopenda team has worked tirelessly to develop and bring to market needs-based, context appropriate medical devices in emerging markets. In the last few months, Neopenda has added team members in Uganda, begun the CE Marking process and been invited to the Techstars Chicago Class of 2018.
More information about Neopenda and how to invest are available at https://republic.co/neopenda.