Glooko, the US-based manufacturer of a remote diabetes patient monitoring system, obtained $16.5m yesterday in a series B round featuring consumer electronics company Samsung and medical device maker Medtronic.
Venture capital firms Canaan Partners and Social + Capital Partnership also took part in the round.
Glooko closed its series A round at $10.5m in January 2014, having received the initial $3.5m tranche in 2012. The series A funding came from Samsung, Social + Capital, Lifeforce Ventures, Xtreme Labs and a range of angel investors.
The company raised $1m in seed funding from Social + Capital, Xtreme Labs and assorted angel investors in 2010.
Glooko’s mobile cloud-based service enables healthcare providers to remotely engage with diabetes patients, aand allows patients to keep track of their glucose level using a bluetooth-enabled device and dedicated smartphone app. The company aims to reduce expensive treatments and hospitalisations.
The series B capital will be used to further develop its service and integrate data collected by insulin pumps, glucose monitoring systems and personalised predictive algorithms.