Receive our newsletter – data, insights and analysis delivered to you
  1. News
July 27, 2020

Indigo Diabetes raises funds to develop diabetes monitoring device

High-tech medical device company Indigo Diabetes has raised €38m in Series B financing round to support the development of its 'invisible' continuous glucose monitoring device for diabetes.

High-tech medical device company Indigo Diabetes has raised €38m in Series B financing round to support the development of its ‘invisible’ continuous glucose monitoring device for diabetes.

The financing round was led by Fund+ with participation from Ackermans & van Haaren, imec.xpand, Capricorn Digital Growth Fund, QBICII, Titan Baratto and existing Series A investors.

Following the round, Fund+ partner Jan Van den Bossche will join Indigo’s board.

Indigo has developed a small chip, using nanophotonics to measure glucose and ketones in diabetes patients. The product is designed to be inserted subcutaneously in the patient’s skin and cannot be seen.

The device can continuously monitor glucose levels for up to two years and enables both the patient and their healthcare provider to quickly identify life-threatening situations.

Furthermore, it enables better management of the diabetic condition and offers patients a substantially improved quality of life.

Content from our partners
Small and simple: how medical device manufacturers select materials
Precision wire: The future of bespoke medical treatment
Why this global life sciences COO believes relocation to Charleston, SC, was key to achieving next-level success

Indigo founder and CEO Danaë Delbeke said: “We are very pleased to welcome Fund+ to Indigo. Its investment is a validation of our innovative approach to developing an ‘invisible’ sensor, which has the potential to give people with diabetes control over their own lives.

“By using nanophotonics – a spectrometer in miniature form – our sensor allows the measurement of glucose and other biomarkers or metabolites such as ketones accurately and continuously. This financing will enable us to accelerate the development of our sensor into clinical development.”

Commenting on the new development, Jan Van den Bossche said: “We have been impressed by Indigo’s world-class team and innovative approach.

“They have applied ground-breaking photonics technologies at miniature scale to develop an innovative product for diabetics around the world. This product has the potential to provide easier, continuous monitoring and provide a better quality of life to millions of people.”

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU