OxiWear Company Profile

Background

Founded: 2019
Location: Arlington, VA
CEO: Shavini Fernando
Employees: 9
Website: oxiwear.com
Social Media: @oxiwear

Mission: OxiWear is dedicated to reducing patient vulnerability to hypoxic injury through wearable, continuous oxygen monitoring. The company aims to increase safety and security for individuals prone to silent hypoxia, reduce healthcare costs, and save lives.

Key Strategic Focus

OxiWear specializes in developing ear-wearable pulse oximeters that provide continuous, real-time measurement of blood oxygen saturation (SpO₂) and pulse rate. The device is designed for use during both rest and motion, catering to patients with chronic conditions, high-performance athletes, and individuals exposed to high-altitude environments. By offering continuous monitoring and low-oxygen alerting, OxiWear seeks to prevent hypoxic injuries and enhance overall health outcomes.

Financials and Funding

In November 2021, OxiWear successfully closed a pre-seed funding round, raising $1.25 million—surpassing its initial goal of $750,000. The round was led by the GAP Fund, an investment program of the Virginia Innovation Partnership Corporation (VIPC), formerly CIT. Additional investors included Ted Leonsis, The Paul & Rose Carter Foundation, Future Communities Capital, Gaingels, Halcyon Fund, Hourglass Venture Partners, TiE DC and Boston Chapters, Tysons Angel Group, and Paul Caicedo. The funds were allocated to finalize product development and initiate beta testing, aiming for a consumer device release by mid-2022.

Technological Platform and Innovation

OxiWear's proprietary ear-wearable pulse oximeter offers continuous, real-time monitoring of blood oxygen saturation and pulse rate. The device is designed to function accurately during both rest and motion, across all skin types, in clinical and home environments. It features advanced sensor technology and wireless connectivity, enabling seamless data transmission to healthcare providers for ongoing assessment and management. The device also provides haptic vibration alerts at user-set thresholds and can notify designated emergency contacts, enhancing user safety.

Leadership Team

Shavini Fernando – Founder and CEO: With over 15 years of experience in project management and software development, Ms. Fernando holds a BSc in Computer Science from the University of Portsmouth, an MBA from Edith Cowan University, and an MA in Communication, Culture, and Technology from Georgetown University. As a patient with pulmonary hypertension, she brings personal insight into product design and market fit.

Todd Kolb, MD, Ph.D. – Chief Medical Officer: A specialist in Pulmonary and Critical Care Medicine at Johns Hopkins University Hospital, Dr. Kolb has extensive experience in diagnosing and managing chronic pulmonary hypertension and acute respiratory conditions.

Ben Salthouse – Lead Designer: Holding an undergraduate degree in industrial design from Thomas Jefferson University, Mr. Salthouse has over a decade of experience as a design consultant for leading companies, including Under Armour and Frog.

Michael Boncaldo – Senior Software Engineer: With a mechanical engineering degree from Carnegie Mellon University, Mr. Boncaldo brings over 25 years of experience in various industries, specializing in embedded software development and data acquisition.

Ya Zhang – Senior UX Designer: Ms. Zhang holds degrees in computer science from Zhengzhou University and the University of Warwick, and an MA in Communication, Culture, and Technology from Georgetown University. Her expertise includes product design, user experience design, and data analysis.

Ian Holder – Scientific Officer: Mr. Holder has a master's degree in exercise physiology and extensive experience in clinical research related to exercise and hypoxia.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within OxiWear's leadership team.

Competitor Profile

Market Insights and Dynamics

The wearable health technology market is experiencing significant growth, driven by increasing consumer awareness of health monitoring and advancements in sensor technology. Continuous monitoring devices, particularly those offering real-time data and alerts, are becoming increasingly valuable in both consumer fitness and medical applications.

Competitor Analysis

Key competitors in the continuous oxygen monitoring space include traditional finger pulse oximeters and wearable devices like smartwatches that offer SpO₂ monitoring. However, many of these devices provide only spot readings or lack FDA clearance for continuous monitoring during motion. OxiWear differentiates itself by offering a non-intrusive, ear-worn device that provides continuous, real-time monitoring with medical-grade accuracy, even during physical activity.

Strategic Collaborations and Partnerships

World's Highest OCR and ALTITUDE OCR: In March 2022, OxiWear signed a memorandum of understanding with E.P. Global Events Limited, the organizers of World's Highest OCR and ALTITUDE OCR World Series. The partnership aims to use OxiWear devices to monitor athletes during high-altitude obstacle course races, helping to prevent hypoxic injuries.

Air Locker Training: In November 2022, OxiWear partnered with Air Locker Training, an Australian fitness franchise specializing in simulated altitude training. OxiWear's device will be used to provide real-time performance tracking and ensure member safety during hypoxic training sessions.

Inspired Performance Institute: In January 2023, OxiWear signed a letter of intent with the Inspired Performance Institute to develop a custom application aimed at helping individuals manage and prevent panic attack episodes through real-time oxygen monitoring.

Operational Insights

OxiWear's strategic partnerships and FDA clearance position the company to effectively compete in the wearable health technology market. The device's unique features, such as continuous monitoring during motion and haptic alerts, provide distinct competitive advantages over traditional pulse o