Healthtech startup Bluesemi plans to raise $10M for non-invasive glucose monitoring device

• ByStartup Story Team     |    April 20, 2023

Healthtech startup Bluesemi has revealed plans to raise about $10 million in Series-A funding for its flagship product, Eyva, the world’s first non-invasive blood glucose level measuring device. The device uses spectroscopy and artificial intelligence to detect glucose levels without drawing blood, making it ideal for diabetes patients who require frequent blood sugar monitoring. The funds raised from the Series-A round are expected to be used to scale up production, expand research and development efforts, and hire new talent.

Founder and CEO Sunil Maddikatla disclosed that Bluesemi is in advanced discussions with global venture capital funds, with negotiations expected to conclude by the third quarter of the current fiscal year. While Maddikatla declined to provide specifics on the negotiations due to non-disclosure agreements, he expressed optimism that the raised funds would enable Bluesemi to achieve its goal of making glucose monitoring easy, painless, and accessible for all.

“Our vision is to make glucose monitoring easy, painless and accessible for everyone, regardless of their location, socio-economic background, or health status,” said Maddikatla. “We believe that the funds raised in our Series-A round will allow us to continue to make a positive impact on people’s lives.”

Bluesemi’s innovative technology has the potential to revolutionize diabetes care, eliminating the need for painful and invasive blood tests, and making blood sugar monitoring more convenient for patients. The company’s commitment to improving access to healthcare and reducing the burden of chronic diseases is evident in its efforts to develop and market affordable, innovative solutions that have the potential to improve patient outcomes.

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