
India’s Persistent backs hand hygiene wearables start-up
Persistent Venture Fund, a VC fund controlled by listed Indian software and technology company Persistent Systems, has invested in Hyginex, a US-based wearable technology manufacturer specializing in healthcare applications.
Financial details were not disclosed but Persistent Venture Fund typically invests in increments of $100,000-250,000.
Hyginex develops products that monitor staff hygiene in healthcare facilities. Sensors mounted on wristbands register a proper hand hygiene event based on the amount of soap used and time spent scrubbing. Further sensors above a patient's bed alert staff if they approach without having first completed a hand hygiene event.
All data collected by the wristbands is uploaded to a server allowing management to track compliance.
The company was founded in 2008 by Efrat Raichman, an Israeli whose uncle passed away after contracting a hospital-acquired infection. She carried out further research into these infections and found that improper hand hygiene was a leading cause.
Shiva Swami, who has experience in the technology start-up space, came on board as CEO in 2013 to help the company expand in the US. His mother had suffered four blood infections while being treated in hospital as an end-stage renal disease patient.
Every year in the US there are 1.7 million healthcare-associated infections that result in close to 100,000 patient deaths.
"Hyginex's unique approach based on innovative wearable technology protects patients in hospitals and improves global healthcare," said Dr. Sridhar Jagannathan, chief innovation officer at Persistent Systems and head of the Persistent Venture Fund, in a statement. "To this investment in Hyginex, Persistent brings its expertise and focus on emerging medical technologies."
Persistent has a global team of more than 7,500 employees providing software and technology outsourcing services across analytics, big data and cloud computing for the telecom, life sciences, healthcare and financial services sectors.
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.