Indigo Diabetes, a Belgian medtech company that develops medical solutions using nanophotonics, has closed a €38 million Series B funding round to further develop its ‘Multi-Biomarker Sensor’ for people with diabetes. The round was led by Fund+, with the participation of Ackermans & van Haaren, imec.xpand, Capricorn Digital Growth Fund, QBICII, Titan Baratto as well as Series A investors, including Capricorn ICT Arkiv.
The small sensor chip is designed to be inserted underneath the skin, where it continuously measures glucose and ketones. In addition to detecting life-threatening situations more quickly, the Indigo team believes its ‘invisible’ implanted sensor can improve the general quality of life for diabetes patients.
Founded in Zwijnaarde in 2016, the startup has founder Danaë Delbeke at the helm as CEO. The new investment follows a €7 million Series A, secured at the end of 2016, and will finance the impending clinical study phase.