Medical device company Sight Diagnostics has raised $27.8 million in funding to expand its system that uses AI to analyze blood tests, according to a report by VentureBeat.
The company’s Olo system leverages AI to process scans and can perform “lab-grade,” point-of-care complete blood count (CBC) tests within 10 minutes, while only requiring just a prick of blood, the report stated. The funding will be used to further research and expand the system globally, which includes supporting the company’s regulatory efforts—like earning FDA approval—in the United States.
Sight Diagnostics has now raised a total of $52.8 million after previous funding rounds raised $25 million, according to information available on Crunchbase. Its recent Series C financing round was led by Longliv Ventures and included investments from Go Capital, OurCrowd, New Alliance Capital and strategic investors Jack Nicklaus II and Steven Esrick.
“The ability to create rich digital images of blood samples and analyze them in minutes has enormous potential to improve diagnostics and patient care,” Sarah Levy, chief technical officer at Sight Diagnostics, said in the report. “This funding round will also allow us to expand our R&D activities to develop applications beyond CBC.”
To read the full report, click the link below.
Danielle covers Clinical Innovation & Technology as a senior news writer for TriMed Media. Previously, she worked as a news reporter in northeast Missouri and earned a journalism degree from the University of Illinois at Urbana-Champaign. She's also a huge fan of the Chicago Cubs, Bears and Bulls.