Tallwave Capital has allocated seed funding to three early-stage companies developing healthcare technologies who won its lean business challenge hunting for healthcare disruptors.
The Arizona-based venture capital firm will use the bulk of the $500,000 from its fund to reinvest in its Tallwave High Tide Business competition to help early-stage companies commercialize their products faster.
The three healthcare startups who won span tools for employer wellness programs to remote monitoring technology for children. In exchange for $45,000 in the form of a convertible note, Tallwave gets a 6 percent equity stake in their companies. They include:
Inspire Living, a Washington, D.C.-based company led by Kristi Buckles Otto, developed a medical device to measure respiratory rate in children and for early detection of pneumonia in children in developing countries. Its remote monitoring device measures respiratory rate and vitals for children and is designed to overcome the problem of breath rate anomaly that can lead to misdiagnosis.
Health Options Worldwide uses behavioral psychology to increase employee engagement with health plans and reduce reactive care spend. Users receive a healthcare risk assessment and, based on their age, sex and healthcare background, it prompts a series of reminders for users delivered by a personal coach. The program by the Somerset, N.J., business is aimed at small and medium-sized businesses to help them manage their employee health. The idea is that by encouraging people to be more proactive with their health and get regular checkups, they will catch potential health problems earlier and it will lead to fewer missed work days.
Performance 3D uses 3D motion capture and analysis technology to assess gait, range of motion, and walking and running efficiency to boost fitness performance and reduce the risk of injury, according to its website.
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