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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.”