Hygieia in Livonia, a digital health company for insulin management, announced it has closed on an initial $17 million series B investment round led by Israeli venture capital firm Firstime Ventures along with participation with existing investors.
The company states it will use the funding to expand partnerships with endocrinology practices and expand access to its unique d-Nav insulin dose automation technology for people with type 2 diabetes.
“This funding is a key vote of confidence in our technology, signaling a seismic shift in the way patients and their physicians can better manage insulin therapy,” says Eran Bashan, CEO and co-founder of Hygieia. “We have already partnered with the leading endocrinology practices in Southeast Michigan, and this new funding will help us develop similar partnerships throughout Michigan and beyond.”
Hygieia’s d-Nav is designed to take guesswork out of insulin by telling patients exactly how much insulin they need the moment they inject it. It is the first FDA-cleared technology to adjust the medication dose directly to the patient.
The technology has prescribed more than 5 million insulin doses to-date, with nearly 90 percent of users reporting lower A1c within 90 days of starting the program.
The company is expected to have endocrinology partnerships in 10 states over the next two years. Currently, Hygieia has two international licenses — one in Northern Ireland and one in Israel. Clalit, the largest integrated health system in Israel, is launching a pilot program with the technology this month.
“Hygieia’s d-Nav technology is easily accessible through an app on the phone,” says Keren Kopilov of Firstime Ventures. “We believe this technology is a game changer for the millions of people with type 2 diabetes who inject insulin, reducing the burden of disease management while substantially improving blood sugar levels.”
“Hygieia matches the focus of our third fund, which invests in companies with trailblazing technologies that are aligned with the UN Sustainable Development Goals and perform digital transition in healthcare and the battle against the climate crisis.”