Medical tech startup Healthy.io announced the closure of an $18 million Series B funding round led by VC firm Aleph, with the participation of Samsung NEXT and private investors.
Healthy.io developed a system to turn smartphones into sophisticated diagnostics devices capable of analyzing urine samples.
Last year, the startup entered a partnership with the US National Kidney Foundation (NKF) and Geisinger, one of the largest health services organizations in America, for a clinical trial using the smartphone-enabled home urinalysis device for chronic kidney disease (CKD) among patients with high blood pressure.
The company said in a statement that the funding will help scale its operations “aimed at sparing millions from the enormous burden of kidney disease complications while cutting costs for the overstrained medical system.”
Healthy.io says it will further expand its operations in the US and continue a rollout in the UK, where it also launched a consumer-focused UTI testing service in partnership with Boots UK.
“We are reinventing existing paradigms of prevention,” said Healthy.io founder and CEO Yonatan Adiri. “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.”
Healthy.io’s system has FDA clearance, and in 2018 the company announced a global partnership with international market leader Siemens Healthineers