California-based Biolinq, a health technology company developing precision multi-analyte wearable biosensors for metabolic health, announced it scored $58 million in financing.
Alpha Wave Ventures led the round, with participation from Niterra’s corporate venture capital fund, which is jointly operated with Pegasus Tech Ventures.
Existing investors, including AXA IM Alts, Senvest Management, Features Capital, Aphelion Capital, RiverVest Venture Partners, and Taisho Pharmaceutical, also participated in the raise.
Biolinq created a wearable patch that evaluates glucose levels and levels of activity. Using small electrochemical sensors, the patch measures glucose levels from the intradermal space beneath the surface of one's skin.
The company will use the funds to perform a clinical trial on its glucose sensor and for FDA submission.
"Our technology approach enables access to a coveted, metabolically active compartment of the skin for biosensing without the use of introducer needles or bleeding," Rich Yang, CEO of Biolinq, said in a statement. "Over the past decade, our team has been pioneering a new biosensor platform designed to inform and inspire, with a mission to reach more people that are in need of simple solutions to improve metabolic health."
Full article: https://www.mobihealthnews.com/news/biolinq-raises-58m-wearable-biosensor-tech-and-more-digital-health-fundings
