UK health tech startup Zedsen has announced a $12M (£8.7M) Series B round of funding at a $110 valuation.
The London-based firm makes non-invasive sensors which use key biological signals from consumers’ bloodstreams to provide personalised health insights.
Investors include Joseph R Grano, former chairperson and CEO of UBS Financial Services Inc, Nasser Kazeminy, founder of NJK Holding and chairperson of the Ellis Island Honor Society (EIHS), Tony Rice, former CEO of Cable and Wireless, Bonnie Mcalveen Hunter, chairperson of the Red Cross and Jim Harpel, investor at Palm Beach Capital.
Zedson also announced that Caroline Hargrove, formerly of Babylon Health and McLaren Applied Tech, has joined the firm as chief technology officer (CTO).
WHAT IT DOES
Zedsen’s technology uses a sensor that sits on the skin to continuously gather biophysical data from the bloodstream without the need for needles.
Most health apps rely on data gleaned from outside the body, such as heart rate, temperature and movement or get data from the blood invasively with needles or patches that puncture the skin.
By analysing a combination of internal and external data, Zedsen’s skin sensor provides users a more precise picture of their health so they can make small lifestyle changes with significant long-term benefits.
The firm says its technology could help spot and reverse trends towards prediabetes, track fertility, and understand and tailor dietary needs to an individual’s unique biological response. The technology is supported by 46 patents.
WHAT IT’S FOR
A Zedsen spokesperson said the funding will be used for new product development, research and development (R&D) and marketing.
A personalised medicine approach is also being used by UK biotech firm Genomics plc, which is working with the NHS on a pilot study using genetic information from patients’ blood samples to predict risk of heart disease.
Meanwhile, Fitbit users can now track their blood glucose levels within the device’s app, by connecting it with their LifeScan OneTouch Reveal app or manually logging their levels. Fitbit plans to add other glucose meters and apps in the future.
ON THE RECORD
Zedsen CEO, Daniel Honeywell, said: “Chronic disease accounts for 41 million avoidable deaths each year. Knowing this can be prevented through meaningful biological insights and manageable lifestyle changes will allow us to actually deliver on the promise of proactive, personalised and preventative care.”
Zedson CTO, Dr Hargrove, said: “Low-cost, non-invasive technology for monitoring blood to a high standard is the holy grail that has profound, life-enhancing impact – whether you are monitoring metabolic health to improve athletic performance or working to reverse the trend towards diabetes. I’m delighted to be working on developing such transformative products based on Zedsen’s novel non-invasive technology and being part of Zedsen’s amazing team.”