Biolinq has raised $100 million in venture capital financing to help complete the development of its wearable glucose biosensor—proceeds the company said would help set up its commercial efforts while it prepares submissions for U.S. regulatory approval.
The coin-sized device, worn on the forearm, can also track sleep and activity data to help provide additional context around the user’s metabolic health. It employs an array of electrochemical sensors capable of measuring multiple analytes under the skin, such as lactate and ketones, without requiring introducer needles or tapping into subcutaneous tissue.
The system also features a color-changing indicator light to provide real-time feedback on blood sugar levels.
“Biolinq is unlocking a new era of biosensing technology, making glucose information simpler and more accessible,” the company’s chairman, Dan Bradbury, said in a statement. “This technology has the potential to help restore metabolic health for millions of people living with Type 2 diabetes not using insulin.”
The company’s series C financing round was led by Alpha Wave Ventures and counted previous backers among RiverVest Venture Partners, AXA IM Alts, LifeSci Venture Partners, M Ventures, Hikma Ventures, Aphelion Capital, Taisho Pharmaceutical and Features Capital.
About one year ago, in April 2024, Biolinq raised $58 million to be put toward the completion of a pivotal clinical trial. That fundraising was also led by Alpha Wave Ventures.
“Biolinq has attracted leading experts in biosensor development, consumer electronics design, proprietary materials science, software engineering and semiconductor manufacturing to build a new category of biowearables,” Rick Gerson, chairman of Alpha Wave Global, said at the time.
Prior to that, the company raised $100 million through a series B round in late 2021.