Quick take:
- Digital health services provider Rymedi has raised $9 million for its Web3 healthcare data platform.
- RW3 Ventures and White Star Capital led the Series A round with participation from Blockchange Ventures and Blizzard Fund.
- The company will use the funds to enhance data security and healthcare record accessibility.
Rymedi has announced a $9 million Series A round led by RW3 Ventures and White Star Capital. Blockchange Ventures and Avalanche’s Blizzard Fund also joined the round.
Rymedi is a digital health services provider focused on expanding medical diagnostics into the digital world. The company is building a blockchain-based platform that facilitates the transfer of healthcare data on-chain.
According to the announcement, Rymedi plans to use the capital to enhance “data security, healthcare record accessibility, North America market expansion and development of global opportunities.” The company has now raised $13 million in total, Rymedi’s Chief Strategy Officer Jason Cross told The Block.
Commenting on the announcement, David Stefanich, CEO and Founder of Rymedi, said his company’s decentralised data platform “is diminishing roadblocks that healthcare systems have faced for far too long.”
According to Stefanich, Rymedi is looking to address some of the healthcare industry’s most pressing issues like data entry errors and healthcare compliance, which have been culpable of slowing down the development of life-saving research, patient care, and occupational health processes.
“We are improving the overall healthcare experience with this technology,” he added.
Explaining how Rymedi fits in the healthcare ecosystem, Cross said: “Our digital workflows are providing blockchain-based data compliance automation for healthcare enterprise today, from labs and pharma to medical device manufacturers and healthcare systems.”
“In the process, Rymedi is laying the rails for patients and customers to leverage ever more decentralized web3 value propositions with their data in the future.”
Some of Rymedi’s customers include Clemson University, an early adopter of the technology, which used the platform for campus-wide COVID-19 testing. Luxor Scientific, a Greenville, SC-based clinical and research laboratory is using Rymedi to test school districts across the state of Alabama and DHEC community sites across the state of SC.
Rymedi’s blockchain-based solution also allows patients to take control of their healthcare information.
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
