Arlington, Virginia-based OxiWear develops a wearable pulse oximeter that delivers 24-hour continuous oxygen monitoring and low-oxygen alerting. The $1.25 million in funding comes in at half a million more dollars than expected for the pre-seed funding round.
GAP Funds led the pre-seed round, with reinvestments coming from Ted Leonsis and The Paul & Rose Carter Foundation. Additionally, Paul Caicedo, Future Communities Capital, Gaingels, Halcyon Fund, Hourglass Venture Partners, TiE DC and Boston Chapters, and Tysons Angel Group contributed to the round, according to a news release.
OxiWear’s device is worn on the ear, which the company said is one of the most accurate places to measure oxygen saturation levels (SPO2) and to detect when oxygen lev…