Diabeloop secures €70m to automate the treatment and management of diabetes; here’s how

Diabeloop, a French medical device company that offers personalized AI-powered solutions to automate the treatment and management of diabetes, announced on Thursday that it has raised €70 million in its Series C funding round.

The company develops machine learning software for the treatment of diabetes, automating insulin delivery. Its algorithms are integrated into products to aid in chronic disease management, which impacts patient clinical outcomes.

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Diabeloop says the funds will accelerate the company’s commercial rollout and support its sustained growth strategy and “high impact” projects.

Investors supporting this cycle

The round table was led by private equity player LBO France. The venture division of the sustainability-minded private equity fund claims to be a European leader in digital health, supporting companies with ambitious plans to expand their footprint internationally.

Valery Huot, Partner, Head of Venture at LBO France, says: “The Diabeloop team has developed a unique data-driven product that has the potential to revolutionize the daily lives of millions of diabetic patients by removing most of their daily mental load and improve the control of their disease. We look forward to joining the investor base and helping the company become a global leader in closed-loop software solutions for diabetes.

In addition, the international healthcare company Terumo Corporation also participated in this round. After entering into development agreements in 2020, Terumo extended them to a strategic partnership agreement with Diabeloop in 2021.

Innovacom, a company specializing in deep-tech and industrial projects, joins LBO France and Terumo Corporation as a new investor. Existing investors, including CERITD, CEMAG invest, Kreaxi, Supernova Invest, AGIR A DOM., Crédit Agricole, Odyssée Venture, UI Investissement (Sofimac) and Promontoires, have also invested in this funding round.

Bpifrance and the historical banking pool support Diabeloop via debt financing.

Pursuing scientific advances in diabetes management

Founded in 2015 by Erik Huneker and Guillaume Charpentier, Diabeloop aims to make innovation accessible to people with diabetes, improve clinical outcomes while relieving them of their constant mental load.

The first closed-loop solutions marketed by Diabeloop offer personalized management of type 1 (DBLG1) and highly unstable type 1 (DBL-hu) diabetes. By connecting a continuous glucose monitoring (CGM) device and an insulin pump, Diabeloop’s algorithms analyze data in real time and automate insulin delivery. It transforms the lives of people with diabetes by supporting many treatment decisions that were previously made by patients.

Diabeloop’s two medical devices, DBLG1 System and DBL-hu, are CE marked and deployed in Europe.

In 2019, Diabeloop obtained the highest European funding round recorded in Therapeutic Artificial Intelligence and continued the commercial launch of its two products. The company has equipped 10,000 patients in less than a year.

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