South African startup hearX Group, which seeks to increase access to hearing healthcare via smart digital solutions, has finalized a $8.3 million Series A fundraising effort to expand its reach in the United States, Disrupt Africa reported.
Bose Ventures, the US-based venture capital company within Bose Corporation which invested US$3 million in this round, is leading the US$8.3 million funding round.
More-also, South African VC HAVAÍC, Futuregrowth Asset Management and Sphere Holdings participated in the round.
The investment has boosted the launch of its premium, direct-to-consumer hearing aid solution – Lexie Hearing – in the US.
Using smart technology, Lexie offers a comprehensive and affordable hearing aid solution from as little as US$39.
Since its launch, Lexie Hearing has collaborated with Walgreens, the country’s second largest pharmacy store chain, to sell Lexie Lumen hearing aids online.
“Bose Ventures funding will allow hearX to tackle hearing loss more effectively and advance strategies for hearing care.
Our team has worked relentlessly to enter over 1.5 million lives worldwide, so an investment of this size in hearX is incredibly satisfying and inspiring for all of us,” said Nic Klopper, chief executive officer (CEO) of hearX group.