Israeli startup keepMed which offers a new treatment for snoring problems just brought in more than $15 million in a series C financing round. Merieux Equity Partners led the round along with a group of new investors which included Celeste Management, Financière Arbevel and 4See Ventures.
We all hate snoring. Snorers keep us up at night. They annoy us when they sleep on airplanes, even when they sit three rows away. And snorers suffer from health problems related to sleep apnea. They not only fail to get a decent not sleep because they partially wake up throughout the night, but the disruption to their breathing can cause heart problems.
So what can snorers do? Well they can spend a lot of money on a machine which pumps air through the nose while they sleep. But such machines are cumbersome and hard to take with you when you travel. And the noise hey make is worse than the snoring.
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There are also a variety of dental appliances worn during sleep. But these are also expensive, are less effective and need to be replaced every couple of years.
Then there are the myriad of cheap “fixes” advertised on line which don’t really work.
So keepMed has designed the keePAP, a hose-less, wearable, therapeutic Positive Airway Pressure (PAP) on demand device which the company says uses minimal airflow. It is not only much smaller than the big air pressure machines, it also maintains airway patency by “mobilizing the user’s respiratory system to deliver just the amount of PAP needed by the user – intermittently and with minimal airflow,” instead of pushing tens of liters of pressurized air per minute into the upper airway throughout the night.
“We are honored to welcome new investors and are thankful to our existing investors, especially Merieux Equity Partners, for their continued support of our efforts to bring this breakthrough solution to OSA sufferers. Our mission is to enable individuals with OSA to breathe without interruption during the night – as naturally as possible and with minimal intervention. A good night’s sleep is key for good health and quality of life,” said Alex Rapoport, CEO of keepMed.
“We are delighted to have contributed to the strengthening of keepMed’s financial position, with new investors sharing the same excitement for what is, in our view, a revolutionary yet very adequate treatment solution for patients suffering from sleep and respiratory disorders. We look forward to the completion of the next clinical study of keePAP,” added Valérie Calenda, Partner at Merieux Equity Partners.