Movano Inc., a Pleasanton, Calif.-based health-focused technology company focused on people affected by chronic health conditions, raised $10M in a bridge round.
The round, which brings $27M in total funding, was led by Tri-Valley Ventures.
Since its inception in 2018, the company is actively developing its first product – a wearable, non-invasive continuous glucose monitor (CGM) powered by Radio Frequency (RF) technology that is painless, smart and simple.
Movano intends to use the funds to finalize production silicon and prepare for initial user trials.
Led by Michael Leabman, founder and CEO, Movano has a novel approach to glucose monitoring centered around its patent-pending RF solution, which can be embedded in a wearable and connected to apps and the cloud. The combination of custom-built, miniature and highly flexible sensors, smart antennas and proprietary machine learning algorithms will form a glucose monitoring system. The company’s cloud-based network app will give users real-time data, including trending lines and time-in-range information. This will enable data sharing with healthcare providers, caregivers and family to optimize care routines, reinforce positive behaviors and serve as a catalyst for long-term behavioral changes.
FinSMEs
15/07/2020