iHear fired up a crowdfunding campaign on Indiegogo earlier this year looking to raise $65,000. The campaign closed on April 7 at over $240,000 for their unique hearing aid.
With a successful rewards based campaign under their belt, iHear Medical has now announced they have received additional financing in the amount of $2.5 million – sufficient funding to complete the development and launch of the “worlds first web enabled hearing aid system”. The funding round was led by Lighthouse Capital based in Shanghai. Other participants in the round include early backers of iHear Medical, Aphelion Capital and Highlight Capital.
Minglie Hu, founding partner with Lighthouse Capital, will join the board of directors of iHear. Mr. Hu holds an MBA from UCLA Anderson School of Management.
“I am excited to join iHear Medical to help bring its revolutionary hearing solutions to the market in the US and later to the Chinese market,” stated Minglie Hu.
Key features of the “iHEAR HD” include:
- Affordability – Retailing under $200 per hearing aid, saving consumers thousands of dollars
- Self-Adjustment — iHear’s online tools empower consumers to adjust their own hearing aid settings at home
- Discrete — miniature design fits invisibly inside the ear
- Alternative Distribution Channels – Delivering advanced hearing solutions to consumers at home and in retailing chain stores.
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