NuvoAir raised $12 million in a Series A funding led by London-based AlbionVC.

NuvoAir, a Stockholm, Sweden-based digital therapeutics company providing smartphone spirometers for measuring lungs health, announced raising $12 million series A.

The money was raised from investors led by AlbionVC, a London-based VC and joined by KAYA (formerly Enern), Amino Collective and existing shareholders Spiltan, Industrifonden and Novartis Pharma AG via dRx Capital.

Concurrent with the financing, Gary Kurtzman, M.D., has been appointed as NuvoAir's Chairman of the Board to support the company with the U.S. expansion.

The funding will be used to accelerate the expansion of the NuvoAir digital care platform in the US and Europe; advance the development of new products and services; and support NuvoAir's partner and customer base for decentralized clinical trials around the world.

NuvoAir, founded in 2015 as Pond Healthcare Innovation and led by CEO Lorenzo Consoli, built an integrated business based on a smartphone spirometer, which makes available a real-time lung function assessment. The company combines a patient app with connected devices, self-management content, care coordination services, and a provider portal to support members. The platform's technologies include a Bluetooth-enabled spirometer to remotely monitor lung function; a sensor that attaches to asthma and COPD inhalers; and Fitbit integration - all which feed data into the firm's advanced chronic disease management platform. The latest addition to this platform is NuvoAir Cough, which assesses changes in nighttime coughing.

Partners include providers across the US, UK and Europe including Harvard Boston Children's Hospital, New Hampshire's Dartmouth-Hitchcock Medical Center, Royal Brompton Hospital, King's College Hospital in London, as well as pharmaceutical giants Roche, Regeneron and Novartis. NuvoAir has carried out clinical trials in over 20 countries and is trusted by thousands of physicians.

Prior to this deal, NuvoAir raised more than $2M in 2017 and $3 million in 2019.