Persistent Venture Fund invests in healthcare-focused wearable devices maker Hyginex
Persistent Venture Fund, an early-stage fund created by Pune-based Persistent Systems Ltd, has invested an undisclosed sum in California-based Hyginex Inc, which develops a wristband-based technology focused on enhancing the hand hygiene programmes of healthcare services providers. This funding will help Hyginex expand its operations in the US.
Hyginex was founded in 2008 by Shiva Swami and Efrat Raichman. Swami had earlier worked at Sony Pictures & Entertainment, Excel Life Sciences and SAP Portals, while Raichman has experience in the introduction of multi-disciplinary technologies, working with customers and manufacturers in the US, Japan, Korea, Hong Kong and China.
Hyginex has developed a system that uses wearable technology and sensors in healthcare facilities to help doctors and nurses improve hand hygiene practices. It provides data on both hand rub duration as well as frequency. These two elements are essential during hand disinfection to kill and stop the transmission of pathogens. Hyginex aims to help these institutions eliminate healthcare associated infections (HAIs) that lead to more than 100,000 deaths in the US each year.
"Through this investment, Persistent would be able to help us reach our goals of making significant changes in improving patient safety and increasing quality standards in healthcare facilities," Hyginex CEO Shiva Swami said.
Launched in December last year, Persistent Venture Fund is an early-stage fund to provide seed capital to companies operating in the areas of social, mobile, analytics and cloud computing (SMAC). The fund has also invested in US-based ustyme, a free video call app for iPad.
"Hyginex's unique approach based on innovative wearable technology protects patients in hospitals and improves global healthcare. To this investment in Hyginex, Persistent brings its expertise and focus on emerging medical technologies," said Sridhar Jagannathan, head of Persistent Venture Fund.
(Edited by Joby Puthuparampil Johnson)