AAA CK Hutchinson ventures into Sight Diagnostics’ series C

CK Hutchinson ventures into Sight Diagnostics’ series C

Longliv Ventures, a healthcare-focused investment fund owned by conglomerate CK Hutchinson, has led a $27.8m series C round for Israel-based medical device maker Sight Diagnostics.

The round also included participation from an unnamed medical equipment manufacturer, as well as equity crowdfunding platform OurCrowd, Go Capital, New Alliance Capital and private investors including Jack Nicklaus and Steven Esrick.

Sight Diagnostics has developed a system called Olo, which uses artificial intelligence technology to help doctors test a patient’s blood for infectious diseases, cutting down the time needed for results from days to minutes.

The company launched the system in 2014 to test for malaria in developing countries but has since expanded the technology to include complete blood counts.

The confirmation of the round follows a report in Globes last month stating that Sight had raised $28m from unnamed backers, and that Anatomy, the medical device investment fund 50% owned by conglomerate Access Industries’ Clal Biotechnology subsidiary, would hold a 7% stake once the round closed.

Sight had previously received a total of $25m from series A and B rounds that included venture capital firm Innovation Endeavors, it said in July 2018.

The company has also previously conducted three rounds on OurCrowd that raised a total of approximately $9.9m, and which included commitments from pharmaceutical company Haisco, Go Capital and Innovation Endeavors.

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