Berdac Smart Services attracts private equity. The Spanish company has closed its second $1.2 million (€1 million) financing round led by Big Sur Ventures. The fund has entered the company’s capital providing 80% of the amount, in addition to the follow on of the current partners, one of them the founder of a digital health company listed on the Nasdaq and whose name has not been disclosed.
The company will use the funds to boost its marketing and commercial area, according to Berdac sources. The company has developed an intelligent medication assistance service that prevents errors and oversights by dispensing the right pills and tablets at the right time.
The device notifies any possible medication incident to a caregiver in real-time through its mobile app. The service saves time when preparing medication, avoids unnecessary trips, and is available for $48.45 (€39.95) per month in the monthly subscription and €29.95 in the annual fee, less than one euro per day.
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Berdac offers a service that avoids errors and forgetfulness by dispensing the right pills at the right time
“We want to make our brand known and that there is a solution beyond the traditional pill dispenser,” the company said. The company made the leap to the market in November 2020, when it received the first 200 IMAdispenser units, and at the end of March 2021, it received another 200 units that were pending.
Berdac plans to distribute 5,000 units in Spain in 2021 and is negotiating with a state-owned manufacturer to manufacture the device and reduce delivery time. Although the company started production in China, it soon brought it to Spain in order to reduce lead times and work with better quality.
The company expects to deliver another 2,000 units to the rest of Europe in the next six and nine months. By 2022, Berdac expects to have a turnover of two million euros. In addition to Spanish customers, the company has customers in Estonia, France, the Netherlands, where it works with a major health insurer, Lebanon and Mexico.
In addition, Berdac is finalizing a new service that will complete the process of its service and will be launched in the coming weeks. The company also expects to be ready to enter the United States within 18 months, where 15% of the private healthcare budget is spent on medication cost overruns.
The company plans to distribute 5,000 units in Spain by 2021
The company recently moved from the Barcelona Activa incubator to a larger space on Avinguda Meridiana. The company, founded in 2019, took its first steps with €125,000 contributed by partners and friends. At the end of 2018, the company closed its first financing round of €450,000 to start the manufacturing and industrialization of the product. With this transaction, the total amount raised amounts to $1.94 million (€1.6 million).
Berdac’s founding team consists of Roger Guasch, CEO, Blancha Puchau and Meto Gil. The company, which received support in the first round from Ship2B, was also selected by Lanzadera, Juan Roig’s business accelerator, in September 2020.
Although solutions of these characteristics already existed in Europe for residences, the company opted to focus on the end-user and develop a digital solution to manage medication. However, in April the company closed an agreement with Fiatc Residencias to achieve correct management and distribution of medications.
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