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Summary first quarter of 2020 of eKuore

The year 2020 began with big plans for eKuore, new distributors and integrators anf a funding round that was carried out in record time

The year 2020 began with big plans for eKuore, new distributors and integrators that will allow reaching more places and countries, thus expanding the distribution network. On the other hand, the funding round was carried out in record time, during the instability created by COVID-19

eKuore launched a funding round in March through the Capital Cell platform for a total of € 500,000 to complete investment of 1.5 million euros, which already had the support of the Banco Santander Smart Fund with the million euros remaining in loan mode.

eKuore’s proposal is based on creating a system that allows the early detection of idiopathic pulmonary fibrosis (IPF) and murmurs in pediatric cardiology, using an auscultation recognition algorithm obtained with the company’s digital stethoscope.

Despite the uncertainty and doubts that arose in the situation of economic instability, eKuore managed to close the investment round in record time. In just two weeks it achieved its goal of € 500,000 and, finally, it closed on April 3 with a total of € 596,618.90. All this with a global pandemic, a state of emergency, a stock market crash and national confinement.

Given the pandemic situation generated by COVID-19 and the uncertainty of the instability situation worldwide, the measure was taken to follow the recommendations of the health authorities, anticipating remote work, except for the logistics department, which continues their work in person.

On the other hand, during the first months of 2020 before the state of alarm, eKuore participated in several veterinary fairs, including VMX in Orlando (USA) where relations with eKuore partners in LATAM and USA were consolidated.

During January, eKuore visited the ninth edition of the Leipzig Veterinary Congress in Germany with more than 6,200 attendees and 283 exhibitors from 15 countries. And eKuore was also present at the international veterinary congress Montenegro in Portugal, together with its partner in the country BBraun. On this occasion, BBraun was presenting the veterinary otoscope and endoscope to the Portuguese market.

Finally, in terms of international expansion, during the first four-month period of 2020, two new distributors began to extend veterinary products, Glowackivet in Poland; and Distrivet in Chile. And a new integrator started using the eKuore Pro stethoscope in France, Ubidoc Telemedicine.

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