RDS completes seed funding round welcoming Capital Grand Est as investor

• Latest support brings total seed capital raised since RDS’ inception to €13 million
• Jean-François Rax, partner at Capital Grand Est, joins RDS’ strategic board
• Market launch of company’s first product scheduled for early 2024

Strasbourg, France, October 10, 2023 – RDS, the medical device start-up developing MultiSense^®, a patented Remote Patient Monitoring (RPM) solution, today announces that Capital Grand Est has joined its investor pool. This latest backing has helped RDS reach a total amount of €13 million ($13.75M) in seed capital.      

The company intends to use these funds to progress toward the next stages in the development of its MultiSense product, including market launch, once CE marking is obtained (expected by the end of 2023). RDS is now preparing for a Series A funding round in 2024 to initiate the marketing of MultiSense in Europe, continue the development of its pipeline products and launch new clinical trials. It will also fund registration of the device with the US authorities in anticipation of the product’s launch in the country in 2025.

“We are very glad to welcome Capital Grand Est as an investor and, more broadly, for the support received during this seed stage. This investor backing confirms the appeal of our technology as we prepare for our Series A round,” said Elie Lobel, CEO of RDS. “A number of hospitals across Europe have also expressed their support, including in France, Belgium and Germany, a clear demonstration that our MultiSense device meets a real need in transforming patient care.” 

Alongside this financial contribution, Jean-François Rax, partner at Capital Grand Est, will sit on RDS’ strategic board.

“We are delighted to be supporting RDS on its journey, having followed this project closely for nearly three years. The recent developments, the forthcoming CE marking, and its complementary high-level team will help the company to grow rapidly to address an essential public health need: improving post-operative patient monitoring,” said Rax. “I’m pleased to say we have already committed to supporting RDS as part of its Series A funding campaign.”

Since RDS’ inception, the company has received a number of non-dilutive fundings from various organizations, including the French government (through the France2030 program), French public sector investment bank Bpifrance, the Grand-Est regional authority and the European Union.

MultiSense is a class IIa medical device providing healthcare professionals with a comprehensive, high precision, multi-parameter solution for continuous monitoring of patients’ health parameters in hospital or at home. It combines a wearable patch with a cloud-based platform and associated support services. MultiSense delivers continuous measurements of six key parameters, including heart rate, respiratory rate and oxygen saturation. The product is protected by more than 20 patents. Sustainable development has been key in the design of the MultiSense solution: the device can be cleaned, refurbished and reused, to minimize its carbon footprint. MultiSense is intended to facilitate the development of ‘short-term’ hospitalization protocols: reducing the average length of hospital stays, making hospital discharge safer and improving patients’ quality of life.

The global remote patient monitoring market was valued at around $53.6 billion (€51.1bn) in 2022, with an average annual growth of 26.7% forecast for the period from 2022 to 2027. RDS is focusing on a very favorable market, driven by the widespread adoption of ‘short-term’ hospitalization protocols, the gradual increase in eligibility for reimbursement of Remote Patient Monitoring solutions and significant pressure on hospital resources.

About Capital Grand Est

Capital Grand Est is an independent regional investment capital company accredited by the French Financial Markets Authority (AMF).

Since 2012, its 13-strong team has provided support to more than 60 companies in France’s Grand Est and Bourgogne-Franche-Comté regions. With more than €200 million ($211.5M) in assets under management across five investment vehicles, Capital Grand Est organizes various capital transactions for different types of business in the region to accelerate their paths to success. It offers capital-intensive seed round support for innovative young start-ups. For more established companies, it structures development capital transactions to expedite their growth and buyouts to support them in their capital developments.

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About RDS 

RDS develops MultiSense^®, a next-generation Remote Patient Monitoring (RPM) solution comprising a wearable patch monitor for collecting high-quality, real-time physiological data, in hospital or at home, and a cloud-based platform for healthcare professionals to transform these data into actionable insights. MultiSense is protected by more than 20 patents and has been validated in six clinical trials. Marketing in Europe is expected to begin in early 2024.

RDS relies on a talented international team and has received numerous accolades, including the i-Lab prize in 2020, the Grand Prix de l’Académie des Technologies in 2022 and the i-Nov award in 2023.

The company was founded in 2020 and is based in Strasbourg, France. It is incubated at SEMIA/Quest for Health and is part of the Future4Care accelerator program. It currently employs around 20 staff.

www.rdsdiag.com