Healthcare-blockchain developer Embleema announced in a press release on February 6th that it has just closed a $3.7M Series A funding round. The round was led by strategic partner Pharmagest, a leading pharmacy software group in Europe, and Techstars. The new money will be used to further develop blockchain-based applications meant to benefit both patients and pharmacies, and contribute to Embleema’s commercial deployment.
Embleema has proved using blockchain in healthcare is practical
The money Embleema has now received is a vote of confidence based on the company’s previous accomplishments.
In July 2018, Embleema launched in the US the first blockchain-based personal health record system, called PatientTruth. This allows patients to put together their dispersed health records and form a comprehensive and complete health history. They are also given full control over data sharing with smart contracts. If they actively take part in clinical research, patients receive tokens, their participation being rewarded. By being the first company to offer patients the possibility of owning their digital health data, Embleema provides them the opportunity for control and monetization without needing to go through data brokers.
The funds received now will hopefully accelerate the release of the first decentralized marketplace for sharing Real World Evidence and Clinical Data.
Access to mentorship will help Embleema develop further
Embleema will be taking part in the 3 month Alchemist Blockchain Techstars Accelerator.
Techstars, the worldwide network that helps entrepreneurs succeed, and Alchemist, a global blockchain advisory group, have partnered to bring a new mentorship-driven accelerator program to New York City: Alchemist Blockchain Techstars Accelerator. Yossi Hasson of Techstars and Steven Nerayoff of Alchemist will lead the program along with other mentors and experts from both companies.
Embleema is among the first ten companies selected to participate in the accelerator.
Techstars spent nine months searching the world for passionate founders who want to build a more open internet and financial system. On February 5th, the company announced the inaugural class of the Alchemist Blockchain Techstars Accelerator. Applicants came from over 45 countries. Only 10 were selected, after proving their commitment to shaping the future through their work.
This program will provide Embleema access to a hands-on type of mentorship, designed to propel startups and help them develop. The Embleema team will have the opportunity to learn from more than 150 mentors. These include Internet pioneer Jeff Pulver, Gary Rubinoff, Managing Partner of Alchemist Capital, a venture fund focused on blockchain, Trevor Koverko, CEO of Polymath, Leanne Kemp, founder & CEO of Everledger, or blockchain pioneer Steven Nerayoff, involved in such top projects as Ethereum. Participating companies also receive investment capital.
The Accelerator will help Embleema founders gain access to expertise in the nascent – yet rapidly growing – cryptocurrency and blockchain industry, helping them do more faster. Selected companies will not only benefit from resources across Techstars and Alchemist’s ecosystems but will also have the opportunity to work closely with leading market players in the blockchain industry.
Both parties are very pleased about the prospects of working together
Both companies look forward to working together, being certain this collaboration will help Embleema achieve its goals more quickly.
“We’re excited to welcome Embleema to our newest accelerator program and help them succeed by connecting them with leading blockchain industry players,” said Yossi Hasson, Managing Director at Techstars. “We believe in the vision of Embleema’s management team and their ability to set a new benchmark in sharing patient data for research, ultimately giving every individual more control and participation to accelerate research and clinical development.”
Robert Chu, CEO and Founder at Embleema, is confident about the company’s prospects: “Our successful Series A funding round and integration into Techstars’ Alchemist Blockchain program will enable us to accelerate the release of the first decentralized marketplace for health data. Health data owners such as patients, health networks and research centers will be able to exchange more relevant and faster data with life sciences companies and regulators such as the U.S. Food and Drug Administration (FDA) in a real-time, secure and continuous manner, while ensuring full patient consent, thus accelerating the release of new treatments for patients.”
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders and their teams connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners who will help their companies grow. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs and Techstars Corporate Innovation Partnerships. Techstars Mentorship-Driven Accelerator Programs help founders do more faster and Techstars Startup Programs inspire, educate and connect entrepreneurs. Techstars Corporate Innovation Partnerships helps brands supercharge growth by accelerating innovation and cultural transformation. Techstars accelerator portfolio includes more than 1,600 companies with a market cap of $18.2 billion. www.techstars.com
Embleema is the patient-driven healthcare blockchain network for secure sharing of personal health records. Hosted on a private Ethereum blockchain, Embleema’s consolidated, highly-secure repository provides the healthcare ecosystem with an undisputed and holistic view of patients’ medical histories, Embleema is creating a decentralized healthcare data economy by directly connecting the key stakeholders in the healthcare industry with patients while maintaining the patient’s data sovereignty.
CEO Robert Chu left his role as Senior Vice President, Global Technology Solutions at IMS Health to found Embleema in June 2017 and is supported by a team of healthcare and technology executives from Harvard Medical School, T-Systems, the Pharmaceuticals Division of Pierre Fabre and iBionext and Nokia / Withings Digital Health.