iHear Medical completes a USD 4.1 million financing drive


According to a press release dated January 19, iHear Medical has completed a large-scale financing initiative in order to bring affordable, advanced hearing aids to wider markets, reports PR Newswire.

iHear Medical completes a USD 4.1 million financing drive

The financing round was led by Ameritas, iHear’s partner for marketing and distribution of advanced, web-enabled hearing aids and included Aphelion Capital, a California-based venture capital firm with a focus on healthcare innovations, and Lighthouse Capital, a Shanghai-based venture capital firm with a focus on medical devices and information technology.

“We are excited to complete this round with this diverse and distinguished group of investors, and look forward to significant expansion and growth in 2017 and beyond,” said Adnan Shennib, founder and CEO of iHear Medical. The funding will be used to scale up manufacturing and distribution.

iHEAR is pioneering advanced hearing solutions at a fraction of the cost of conventional hearing aids. The main idea behind the group’s vision is to provide an online hearing solutions platform where customers can manage their own hearing care from home. According to the company, its solutions combine high quality sound with online self-programming, and are backed by professional support and remote programming by qualified hearing professionals.

iHEAR Medical launched its web-enabled hearing products in July last year for direct-to-consumer sales in the United States, and plans to launch in China in late 2017.

Source: PR Newswire