CuePath is raising cash for its smart medication system that helps patients keep track of their pill dosages and timing.
The Vancouver, B.C.-based startup today announced a $1.8 million seed round from E-Fund; Canada Innovation Acceleration Investment; and a group of angel investors. Genome British Columbia’s Industry Innovation Program Fund also made a concurrent investment.
CuePath, which graduated from Techstars Seattle earlier this year, has developed sensors for medication packaging like blister packs that help patients stay on schedule with their pill intake. It also lets caretakers remotely monitor medication consumption via SMS messaging, enabled by a hub that has a SIM card and connects wirelessly to the sensor.
“Medication compliance is a huge issue and the ability to track and monitor remotely is a significant need,” Tony Brooks, CFO at Genome British Columbia, said in a statement.
The 8-person company has customers ranging from pharmacies to retirement communities. CuePath CEO Victor Lesau helped launch the startup after witnessing his grandmother’s trying health scares caused by mismanaging her pills.
“The existing solutions use too much tech, which require additional training for patients,” Lesau told GeekWire. “We remove these barriers by utilizing packaging that people are already familiar with, while seamlessly integrating into a pharmacy’s workflow.”
CuePath will use the fresh cash to complete user trials and increase manufacturing production. As a result of the funding, new investors Jennifer Thompson and Kirk Moir have joined the company’s board.