Embleema Closes Series A Funding Round at $3.7M

Embleema Closes Series A Funding Round at $3.7M

By SiliconIndia   |   Thursday, 07 February 2019, 06:01 Hrs
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Embleema Closes Series A Funding Round at $3.7M


The round was led by strategic investors Pharmagest and Techstars. The company intends to use the funds to accelerate the joint development of blockchain-based applications for patients and pharmacies, and further commercial deployment.



Led by CEO Robert Chu, who left his role as Senior Vice President, Global Technology Solutions at IMS Health to found it in June 2017, Embleema is the patient-driven healthcare blockchain network for secure sharing of personal health records. Hosted on a private Ethereum blockchain, the company’s secure repository provides the healthcare ecosystem with a holistic view of patients’ medical history.



"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", says Robert Chu, CEO & Founder, Embleema.



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, Embleema launched PatientTruth, a blockchain-based personal health record system, which lets patients assemble their health history from dispersed health records and s them full control over data sharing with smart contracts, in July 2018. Patients receive tokens in exchange for their active participation in clinical research. Now, the company aims to accelerate the release of the first decentralized marketplace for sharing Real World Evidence and Clinical Data.



"We’re excited to welcome Embleema to our newest accelerator program and help them succeed by connecting them with leading blockchain industry players. 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", says Yossi Hasson, Managing Director, Techstars.



Embleema is also joining the three month Alchemist Blockchain Techstars Accelerator to gain access to more than 150 mentors including 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 top projects including Ethereum. The accelerator also provides investment capital to participating companies.



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