NERV Technology, an Innovation Factory client and Kitchener-Waterloo-based startup offering a sensory platform designed for the healthtech sector, has closed a $3.32 million CAD seed round of funding.
NERv has developed a sensory device that is aimed to help doctors monitor postoperative patients remotely, by detecting potential complications. The startup’s device can attach to catheters and wound drains, and detects leakages that can lead to critical, sometimes fatal, complications. NERv was co-founded in 2014 by CEO Youssef Helwa and COO Amr Abdelgawad, two University of Waterloo engineering graduates. The startup’s executive team also comprises CTO Abdallah El-Falou and lead scientist Mohamed Okasha. The startup raised $1 million in pre-seed funding in 2019, and has raised approximately $2 million in non-dilutive funding and government grants since its founding.
Read the full Betakit article here