The remote monitoring and health management platform Doctomatic has undertaken an investment round with which it expects to raise 650,000 euros to accelerate its expansion plan. The Barcelona-based startup has opened the last tranche of the round on the equity crowdfunding platform specialized in health and biotechnology Capital Cell, in an operation it expects to close in May. Before launching on the platform, Doctomatic concluded a first tranche of the round that closed in December with the support of Encomenda Smart Capital, Ship2B Ventures and the network of private investors of the Col·legi d'Economistes de Catalunya, EconomistesBAN, as well as business angels.
Doctomatic will focus the resources raised through the round on boosting its growth, also internationally, to bring its tool "to as many operators as possible to reach as many patients as possible," according to the startup's CEO, Carmen Rios. The co-founder has a clear goal: to reach one million patients this year. And, after launching the company three years ago and having invested 1.1 million euros in the technological development of its software, "Doctomatic is ready to go aggressively to market," she told The New Barcelona Post.
Rios's forecast also includes the company reaching break even this year and even registering a positive EBITDA. Without specifying revenue figures, the startup focuses its growth on several fronts, including its bet in the geriatric field, entry into health systems, and its international expansion, especially in Europe, Latin America, and the United States. The company is precisely "negotiating a very significant strategic agreement" in the US, according to Rios, who leads the company together with Fernando Ot and Jorge Huerta.
Through a photograph, Doctomatic records, digitizes, and makes available to the doctor the data generated by medical devices"Our aspiration would be for national health systems across Europe to use Doctomatic," highlighted Rios, who emphasized that their platform has easily scalable technology that can handle large numbers of patients. It does so, moreover, in a context without significant direct competition: "Our competitors are very focused on monitoring a single pathology, such as diabetes, while we capture several devices from a single platform."And it is that, through a photograph, Doctomatic registers, digitizes and makes available to the doctor the data generated by devices such as scales, glucometers, blood pressure monitors and thermometers, with the aim of avoiding patient displacements, especially those with chronic conditions.
Over the last year, the startup has also developed the algorithm to capture data from artificial respirators, which serve pediatric patients at the Hospital de Sant Joan de Déu. Its software is also operational in a first phase at Hospital del Mar and in geriatric centers in Spain, Brazil, Mexico, Colombia, and Ecuador.
Doctomatic expects to close this round in a context where the company has been invited by the World Health Organization (WHO) to be part of the Strategic Committee for Digital Health, within the framework of the Data and Digital Health Initiative, which will be inaugurated in June in Copenhagen. The Strategic Partners Initiative for Data and Digital Health (SPI-DDH), led by the WHO in Europe, is a collaborative network to address issues related to the digital transformation of health systems, and Doctomatic will be one of the 100 actors that will be part of the network. In this way, the Barcelona startup will participate in a decisive process in which "the major decisions about the impact of technology on European health systems are being defined."
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