Healthy.io, a Israel-based provider of home medical testing kits, collected $18m on Tuesday in a series B round featuring Samsung Next, an early-stage technology investment fund owned by electronics producer Samsung.
The round was led by venture capital firm Aleph and included unnamed private investors. The company had previously raised $15m from Quantum Pacific as of July 2018 according to Calcalist, the investment vehicle having led Healthy.io’s $11.5m series A round in August 2017.
Founded in 2013, Healthy.io has developed a smartphone-based urinalysis analyser that allows users to detect disorders like urinary tract infections and kidney disease from their own home.
The process involves a smartphone camera being used to scan a dipstick, and the results are sent directly to doctors to be compared with existing medical records.
Healthy.io recently received approval from the US Food and Drug Administration and partnered medical technology provider Siemens Healthineer. The latest funding will be used to bolster its operations in the US, and to fund its rollout in the UK.
Yonatan Adiri, Healthy.io founder and CEO, said: “We are reinventing existing paradigms of prevention. Instead of spending money and other resources to get people to come to the lab, we offer providers a full home-based service.
“With our ‘pay per protein’ model, we only get paid based on tangible cost improvements we deliver by detecting elevated protein in urine – which identifies previously undetected chronic kidney disease.”