Polish medtech FindAir secures $1.7M in a seed round for the US expansion

Cracow-based FindAir, a smart inhaler provider, has secured $1.7 million of investment from 4growth VC fund and NCBR Investment Fund. The company will use the costs for further product research and development, and scaling sales in the US.

• Founded by Michal Czyz, Tomasz Mikosz, and Jacek Mikosz in 2017, FindAir develops hardware and software for collecting data on drug use in the treatment of asthma and chronic obstructive pulmonary disease, remotely monitoring a patient’s condition and communicating with a doctor. FindAir’s solutions are already being used in the Netherlands, Belgium, France, Greece, Ireland, Germany, the UK, and the US. 
• FindAir’s system consists of devices to remotely monitor inhaler use, a mobile app, and an online platform for viewing data. Currently, the company’s portfolio includes smart overlays for inhalers such as Ventolin, Atrodil, Seretide, Serevent, Flixotide, and Budiair. 
• The new round was led by Warsaw-based 4growth VC fund, the firm seeks to invest in fintech and insurance tech companies. Among its recent investments is $2.6 million round for Polish AI startup Talkie.ai.
• NCBR Investment Fund (NIF), Polish fund that focuses on innovative (R&D) small and medium-size enterprises (SMEs) in growth & expansion stage, also joined the round.
• The company will use the investment for further product research, development, and scaling sales in the US, where 40% of its revenues already come from today.