Movano Health

Movano is developing a proprietary digital platform that combines a non-invasive and cuffless wearable device, radio frequency (RF) technology, and sensors to record patient vitals in real-time. The company claims that its painless and inexpensive wearable device is unlike many of the medical devices available in the market, which are still invasive (requiring cuffs and needles) in addition to being expensive.

The company plans to use its patent-pending RF technology to develop miniature, dynamic integrated circuits and proprietary algorithms that can be embedded into various devices, including a wearable, standalone phone case, ring, or skin patch. Movano’s flagship medical device is being developed to combine the features of a continuous glucose monitoring device and a cuffless RF blood pressure monitor into one wearable device. In November 2023, the company launched the smart ring, Evie, targeting the female health market. The ring measures all the basic patient metrics and its integrated app provides personalized insights and actionable advice using the collected data. 

Key customers and partnerships

In December 2022 , the company partnered with healthcare provider Novant Health to conduct a beta test of the Movano Ring with Novant’s employees. Furthermore, in January 2024 , Movano partnered with ams OSRAM to leverage the latter’s PPG sensor solution in the Evie Ring.

Funding and financials

In March 2021, the company’s stock began trading on the Nasdaq under the ticker symbol “MOVE.” In April 2024 , the company raised USD 24 million via a private placement consisting of 45 million units. The funds were allocated towards operational costs and other general corporate needs. 

For FY2023 , the company reported a net loss of USD 29.3 million (down 3.4% YoY).