Launching Pad Investment Fund Company's 2017 angel round investment project-RF-based blood pressure and continuous blood glucose monitoring medical technology company plans to go public through an IPO in March 2021, and raised approximately 30 million in the process The additional funding in US dollars is used for its ongoing technology development and initial clinical trials. The company's IPO has been fully/oversubscribed, and the company's initial IPO valuation is expected to be approximate twice the initial valuation.
Movano is developing a proprietary platform that uses radio frequency (RF) technology, which it believes will enable the creation of low-cost and scalable sensors that are small enough to fit into a wearable device. The platform is the foundation for its first product in development, a non-invasive and cuffless wearable intended to combine the functionality of a continuous glucose monitor and a cuffless RF-based blood pressure monitor. The company currently plans to conduct pivotal trials for FDA 510(k) clearance in the 2021.
