Movano closes $12.5M bridge financing round to transform glucose monitoring with non-invasive wearable technology
Movano is a stealth mode San Francisco Bay Area digital health startup that transforms glucose monitoring with its non-invasive wearable technology. Today, Movano announced it has closed its bridge round at $12.5 million to expand both internal and external testing efforts.
The capital will also help accelerate the process of miniaturizing Movano’s technology into a single chip that can fit inside a wearable. After announcing $10M in bridge funding in July, the company raised an additional $2.5M to progress the development of its wearable non-invasive continuous glucose monitor.
Founded in 2018 by Michael Leabman, Movano is a health-focused technology company dedicated to enhancing the quality of life for people affected by chronic health conditions, including diabetes. Movano aims to make measuring glucose as simple as glancing at your wrist.
Movano uses non-invasive technology that is simple, smart, and invisible to enable individuals and their healthcare partners to measure and manage their health conditions so that life-changing health objectives can be achieved via valuable feedback.
“Covid-19 is shining a spotlight on how devastating chronic disease can really be, illuminating a critical need for technology, like CGMs, that can manage and prevent chronic diseases,” said Michael Leabman, founder and CEO of Movano. “People with chronic conditions such as diabetes want to set, measure, and achieve health objectives without it coming at a cost to their health, wallet or lifestyle. By developing a more affordable and non-invasive solution that provides painless real-time glucose readings at the glance of a wrist, our wearable is expected to represent a new intersection of healthcare and technology that positions the patient at the center of managing their own health.”