Biolinq, the health tech company behind an intradermal glucose sensor, has raised $100 million in a Series C round to support the U.S. regulatory approval process as it moves closer to launching its metabolic biosensor wearable for those with Type 2 diabetes who are not using insulin.
The funding follows Biolinq’s $58 million raise last April that supported the San Diego health tech company’s clinical trial.
Alpha Wave Ventures led the round, with participation from existing investors RiverVest Venture Partners, AXA IM Alts, LifeSci Venture Partners, M Ventures, Hikma Ventures, Aphelion Capital, Taisho Pharmaceutical and Features Capital.
“Our team has spent the last decade developing a biosensor platform designed to inspire healthier living by providing context around a person’s metabolic health,” CEO Rich Yang said.
The “barely there” wearable glucose sensor uses tiny electrochemical sensors to measure glucose levels just beneath the skin’s surface and is worn on the upper forearm. Most notably, it features a color-changing light that gives users real-time feedback on their glucose readings, as opposed to having to check a secondary device.
“Biolinq has assembled world-class experts in biosensor technology, consumer electronics and semiconductor manufacturing to redefine the biowearables category,” Alpha Wave Global chairman Rick Gerson said. “With a highly differentiated product, Biolinq is well-positioned to expand the biosensor market.”
