Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, announced its intention to invest 195 million rubles in Personal Medication & Health Management (PM&HM).
In exchange for this capital injection (the equivalent of $3.3 million at the current exchange rate), the fund will receive a 35% stake in the company.
Developed on the intersection between hardware, Internet-of-Things and digital health, the company’s nebulizer reduces by times side effects of drugs used to treat tuberculosis, oncology and HIV.
The nebulizer comes in three formats — stationary, for home and personal use.
Besides, PM&HM has developed a telemedicine platform for doctors.
The company will use the fresh funding to support clinical trials, production launch and software development.
