Blockchain-powered well being care ecosystem Immunify.Life on Friday introduced it has raised $2 million from enterprise capitalists within the blockchain and digital transformation areas as a part of its seed and personal funding rounds.
The firm’s valuation after the fundraise is unclear.
The funds will probably be used for in-country fieldwork utilizing Immunify.Life’s well being ecosystem to deal with well being challenges.
The firm will initially deal with HIV and vaccination administration in Africa.
First Blockchain Project To Tackle HIV: Newing
Immunify.Life CEO Guy Newing instructed Benzinga the corporate was conceived because the world’s first blockchain and cryptocurrency venture to deal with poor HIV therapy charges.
He added that tackling the difficulty of HIV/AIDS and poor affected person adherence to therapy regimens requires an understanding of the drivers of affected person habits and the obstacles that sufferers face when making an attempt to entry therapy.
“With the right infrastructure, partnerships, and technology components in place, Immunify.Life has begun to leverage the power of blockchain, crypto-based incentives and effective data capture and analysis to develop better, patient-focused solutions – all to improve patient access and use of life-saving HIV treatments. The funds raised will help us achieve these goals,” Newing stated.
Beachhead HIV Field Project In Progress
The firm states that the “beachhead HIV field” venture is in progress in Kenya. Every 12 months, the nation has 40,000 new HIV infections and 20,000 fatalities attributable to the illness.
Over 1.5 million individuals within the nation are HIV-positive general.
Even whereas medicines like antiretroviral medicines or ART can considerably decrease AIDS-related demise charges, 30% of those sufferers don’t make the most of the life-saving therapies which are available to them, the corporate stated.
It added that Immunify.Life seeks to extend affected person adherence charges to accessible therapies by using a cryptocurrency-based incentives system.
Research With The Kenyan Government
The analysis is being carried out in collaboration with the regional Kenyan authorities and native universities of science and know-how.
With the latest fundraising spherical, the analysis has began to enroll sufferers, bringing the potential for utilizing cryptocurrencies to save lots of lives even nearer to actuality, the corporate acknowledged.