Glucose Monitor DarioHealth Raises $5.1M

January 12, 2017 | Israeli digital health and mobile health solutions developer DarioHealth Corp. (formerly Labstyle Innovations) has raised $5.1 million in a private placement. DarioHealth closed on $3.1 million of the transaction while $2 million more of gross proceeds are subject to shareholder approval per Nasdaq rules. The company has developed a mobile blood glucose monitoring platform. The deal was led by OurCrowd Qure, a dedicated digital health fund that invested $2.5 million of the $5.1 million. Current investors of Jerusalem based DarioHealth also participated in the current round indicating the strong support and belief in the company’s strategy moving forward. OurCrowd Qure was granted two board seats, which will be selected and announced at a later date. Funding will be used to accelerate adoption across existing markets and into new geographies such as Germany in 2017.