LoopHealth has raised over $120,000 in funding as 21-year-old co-founders Joshua Obasohan and Neto Nwogbo set themselves up for a seed round this summer.
The Story Of Loop Health
According to TechCrunch, founders Obasohan and Nwogbo were college students brainstorming business venture ideas.
After having initial plans of starting companies in Nigeria that came with barriers, they pivoted their idea to a market they were already familiar with, the university healthcare space.
Then, the duo, both 21, launched Loop Hoop, a telehealth startup that aims to improve primary healthcare delivery for college students.
According to Loop Health, students using their telemedicine solution can experience at least a 10% increase in their health engagement and could be 29% less likely to be chronically absent.
They have estimated that educational institutions can save up to 23% in healthcare operational costs with them.
How Does It Work?
A key part of Loop Health is using gamification technology to keep college students engaged so they use the app daily.
It comes with a number of features, including face scans, which quickly measure vital health metrics in just 40-60 seconds.
This includes blood pressure, oxygen saturation, heart rate variability, heart rate, stress index, and respiration rate – delivering results without requiring an internet connection.
“Precisely how it works is it uses computer vision technology,” Obasohan told Afrotech.
“It takes a rectangular section of your face, and it almost works like a radio. Your phone camera bounces refractory lights off your face and then, in the frequency, which it receives it back, is how it deciphers your heart rate. And then from your heart rate, blood pressure, heart rate variability and so forth.”
There is also a Pharma Hub, health analytic features and a personalized health hub, which consolidates doctors’ notes, medical history, insurance information and a to-do list.
The AI-powered Loop MedDoc Processor automatically organizes uploaded medical documents by extracting keywords from their 300+ word database.
Over $120K In Funding
After receiving support from friends and family, Loop Health landed angel and venture capital investors’ attention.
According to the co-founders, the company raised more than $120,000 in funding before its seed round this summer.
Around the same time, the duo are also set to launch their pilot program at colleges and universities.
Additionally, Loop Health is offering students the option to use the app after graduation and is developing a new feature for 2025 that tracks and quantifies depression and anxiety levels.
Feature Image Credit: Loop Health
