Indigo Diabetes, a Ghent, Belgium-based medical device company developing a novel invisible sensor for diabetes, raised €38M in Series B financing.
The round was led by Fund+ with participation from Ackermans & van Haaren, imec.xpand, Capricorn Digital Growth Fund, QBICII and Titan Baratto, as well as existing Series A investors. In conjunction with the funding, Jan Van den Bossche, Partner at Fund+, will join Indigo Diabetes’ Board.
The company intends to use the funds to accelerate the development of its sensor into clinical development.
Led by CEO and founder Danaë Delbeke, Indigo Diabetes is developing a novel ‘invisible’ continuous glucose monitoring device for diabetics. The company has developed a small chip using nanophotonics that is designed to measure glucose and ketones in people with diabetes. The product is ‘invisible’ as it is inserted subcutaneously in the patient’s skin and cannot be seen. It has the potential to continuously monitor glucose levels for up to two years enabling both the patient and their healthcare provider to speedily and accurately detect any life-threatening situations.