The series A financing under the round led by Waterline Ventures. New World Health, Royal Philips and Haselmeier are the other participant in the financing round.

Gocap dose monitoring solution has been developed for patients to better use injectable medicine, including insulin, fertility medications, growth hormones and others.

The smart cap will track, log and manage injectable dosage, timing and storage information to provide patients with complete data on the usage of injectable medicine at home and on-the-go.

Gocap is said to advance the injector medicine management via data-driven services, including remote disease management, pharmaceutical support, automatic refills, dose titration, and caretaker collaboration.

Common Sensing co-founder and president James White said: "When a person is prescribed insulin, that injection is the most important daily step they take to better health outcomes.

“And yet, most care teams have no visibility into how their patients are using insulin and many patients are missing critical feedback about their care – Common Sensing closes this information gap for both patients and care teams with its new technology."

According to the company, the devices and services mean the difference between success and failure of the injectable treatment and are marketed to pharmaceutical companies, healthcare providers, and payer organizations.

Gocap technology has been developed by co-founders James White and Richard Whalley.

Common Sensing is planning to market Gocap along with injector pens in multiple indications with the support of channel partners such as Haselmeier.

Waterline Ventures partner Robbie Greenglass said: “We invest in platform solutions that will drive the technological transformation of care delivery worldwide, and with over 16 billion injections delivered every year, Common Sensing is tackling a massive problem that has not had a solution available in the past."