The New York pill dispensing startup Hero has secured $12 million in its latest round of funding, according to Crain’s New York Business and a company announcement.
The sizable funding round came thanks to the efforts of Brainchild Holdings, which the investment firm of Hero CEO Kal Vepuri. Additional funding was from Naval Ravikant, Box Group, Third Kind Venture Capital and Refactor Capital.
Hero’s main product is a countertop device that dispenses up to 10 different medications for the exact amounts and times programmed by the user. There are built-in reminders to let users know if they have not taken their medicine from the dispenser.
Showing off its high-tech functionality, Hero has the capability to send messages to family members and also caregivers to notify when a user does not take his or her pills from the device and if the user takes too many pills at one time. Hero is working to establish an automated system that will re-up subscriptions with pharmacists so people do not have to manually re-do their order every few months.
Studies have yet to suggest that these automated order systems encourage people to stay on a healthy regimen when it comes to taking their pills. Still, Valpuri thinks Hero can work to get more people to stick to their intake schedules.
“This is a super-complex problem,” Valpuri told Crain’s New York Business site. “It’s not as simple as just providing notifications or mail-order delivery. You have to do all of those things in a synchronized way.”
Hero has already started sending supplies through the mail and is available on a subscription-based plan.