HEMEX HEALTH RAISES OVER $600,000 IN INVESTMENT FROM TIE GLOBAL ANGELS
Hemex Health, a Portland, Oregon, based medical device company, raised over $600,000 from TiE Global Angels network that included Charter Members from 10 global chapters, specifically TiE Oregon, TiE Silicon Valley as lead investors, TiE DC, TiE London, TiE SoCal, TiE SouthCoast, TiE Mumbai, TiE Rockies, TiE Houston and TiE Chennai as well as Elevate Capital. $330,000 of that amount was committed in one day in a virtual meeting of TiE Global Angels.
This is a huge success for TiE Global Angels, an initiative launched in September 2016 led by Nitin Rai, Vice Chair of TiE Global and Chair of TiE Global Angels. It’s an initiative that helps TiE entrepreneur members to access the power of the TiE Global network for funding and mentoring. This group includes over 250 Charter member angel investors from over 30 chapters across the TiE Global Network. They have invested nearly $1 Million in two startups: Hemex Health and Zeto, another medical device company based in Silicon Valley.
Hemex Health is a biotechnology startup that has developed a device for testing malaria and sickle cell disease, and is based at the OTRADI Bioscience Incubator in Portland Oregon. The TiE investments pushed Hemex beyond its seed capital goal of $3M. Additionally, the TiE Angels investment has brought Hemex advisors and board members to help launch its product in India and Africa. Notable on the board of directors are TiE Charter Members: BioScience entrepreneur Mohan Uttarwar and Prakash Agarwal from TiE Silicon Valley and Dr. Saurabh Gupta and Nitin Rai from TiE Oregon as observers.
“The TiE investment community has been incredibly important to Hemex,” said Patti White, CEO of Hemex Health. “Its members understand malaria and the market potential for better diagnostics. And they are adding value to the company by helping us identify strong partners.”
“We are only getting started!” added Nitin Rai, Chair of TiE Global Angels. “The pipeline of great startups from the TiE ecosystem is building up as Angel groups led by charter members within TiE Chapters continue to invest in startups in their
local ecosystem that have global impact. These companies are great investment opportunities for TiE Global Angels. I expect to see many more such successful outcomes in the future”.
For information about TiE Global Angels visit angels.tie.org
For information about Hemex Health, please visit www.HemexHealth.com.
Image: From L to R, Peter Galen (Hemex), Prakash Agarwal, Patti White (CEO), Nitin Rai, Dr. Saurabh Gupta, Mohan Uttarwar and Daren Bledsoe (Hemex)