TympaHealth, a startup making hearing tests more accessible, just raised $23 million with this 27-slide pitch deck
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- TympaHealth has raised $23 million from Octopus Ventures for its hearing assessment platform.
- The London-based startup aims to make hearing diagnostic tests more accessible outside of hospitals.
- Check out the 27-slide deck it used to raise the fresh funding.
A startup that enables clinicians to perform hearing assessments outside of hospital settings has raised $23 million in fresh funds.
London-based TympaHealth has developed a tool that can capture high-definition images and videos of patients’ ears while also removing any build-up of wax. TympaHealth’s device can then send the data for a remote review to a team of audiologists and ENT specialists for advice and guidance.
The company’s tech, which can be deployed in the likes of pharmacies, care homes, GP clinics and opticians, aims to complete the assessment in under 30 minutes.
TympaHealth founder and CEO Dr Krishan Ramdoo said the goal of the company was to make hearing and ear care more accessible. Any results from the hearing examination can be shared between clinicians, patients, and other healthcare providers.
“Hearing loss is also the single biggest risk factor for prevention of dementia and linked to falls and social isolation,” Ramdoo said. Despite this, waiting times for hearing services can stretch from 12 to 16 weeks given increasing pressures on the National Health Service’s hearing care services, Ramdoo added.
The startup makes its money by providing a subscription service to its SaaS model, which includes the hardware, maintenance, and software platform with access to ENT and audiology reports.
While health tech funding in the UK fell 37% in 2022, Ramdoo said that “investors showed strong interest” in this subsector of healthcare — so much so that the round was over-subscribed.
The Series A was led by London-based venture capital firm Octopus Ventures, which has backed the likes of QuitGenius, Elvie, and Skin + Me.
With the fresh funding, the startup will expand its services in the UK and push to enter the US market, where its product has been FDA registered.
Check out the 27-slide deck used to secure the fresh funds.