Pillo Health, a provider of healthcare solutions that enables organizations to deliver better care into the home, has nabbed USD11 million in Series A funding round to drive growth and innovation of its personal home health robot platform. The round was led by Stanley Black & Decker’s corporate venture capital arm with significant participation from Samsung Ventures, and existing investors, including BioAdvance, Hikma Ventures – the corporate venture capital arm of Hikma Pharmaceuticals PLC, Hackensack Meridien Health System’s Innovation Center Fund and Civilization Ventures.
Pillo Health Co-founder and CEO Emanuele Musini said that “We look forward to the continued evolution of the Pillo Health platform as we work with organizations addressing the management of chronic conditions for patients at home.” He further added that “Stanley Black & Decker and Samsung have made a strong commitment to the health and wellness of millions of Americans looking to remain independent longer, with a focus on tailoring voice-first technologies for their customers and revolutionizing the way healthcare is delivered into the home.”
According to a report, 6 out of 10 Americans reside with at least one chronic disease that is a leading factor of healthcare costs across the nation. In another research report, Medication non-adherence worth up to USD289 billion in wasted costs annually that leads to a higher mortality rate in the U.S. Too conquer this rates, Pillo Health, established in 2015, provides partner organizations an engaging in-home interface and HIPAA-compliant solution and registered as an FDA Class 1 medical device to develop customized voice-first health and wellness experiences. With their platform, the company also empowering them to give better care into the home, with improving patient connections to their care teams and lining up with the rising trend of voice-enabled technologies in the care space.
As part of the fundraising announcement, Pillo Health will utilize this fresh capital to drive growth and innovation as the company builds out its voice-enabled medication and care management platform for the home. Besides, Pillo Health and Stanley Black & Decker have also planned to collaboratively introduce Pria by BLACK+DECKER in the U.S. later this year.