PARIS — Diabeloop, a leading player in therapeutic artificial intelligence applied to insulin delivery, has successfully closed its Series C financing round, securing €70 million. Led by LBO France and joined by Terumo Corporation, Innovacom, and existing partners, the funding will fuel the company’s commercial rollout and international growth, according to a press release published on EuropaWire.
As a pioneer in automated insulin delivery, Diabeloop develops machine-learning software for diabetes treatment, integrating sophisticated algorithms into user-friendly products to enhance chronic disease management and improve patients’ clinical outcomes and quality of life.
With nearly 10,000 equipped patients within a year of commercial launch, Diabeloop’s innovative closed-loop solutions for Type 1 and highly unstable Type 1 diabetes have garnered significant traction in the European market. By seamlessly connecting Continuous Glucose Monitoring devices and insulin pumps, Diabeloop’s advanced algorithms analyze real-time data and automate insulin delivery, alleviating patients’ daily therapeutic decisions and enhancing their overall well-being.
Erik Huneker, founder & CEO of Diabeloop, expressed gratitude for the company’s achievements in 2021 and the positive feedback received from patients, highlighting the immense opportunities ahead. The financing round, led by LBO France, underscores Diabeloop’s promising trajectory and its potential to become a global leader in diabetes closed-loop software solutions.
Valery Huot, Partner and Head of Venture at LBO France, emphasized the transformative impact of Diabeloop’s data-driven products on millions of diabetic patients worldwide, underscoring the firm’s commitment to supporting innovative healthcare solutions.
Terumo Corporation, a leading international healthcare provider, also participated in Diabeloop’s Series C round, reaffirming its commitment to advancing patient-centric and personalized diabetes management solutions.
Joining LBO France and Terumo Corporation as new investors, Innovacom, a prominent player in the European startup ecosystem, further strengthens Diabeloop’s position in the digital health landscape.
The Series C financing round saw reinvestment from existing partners, including CERITD, CEMAG invest, Kreaxi, Supernova Invest, AGIR A DOM., Crédit Agricole, Odyssée Venture, UI Investissement (Sofimac), and Promontoires, reflecting confidence in Diabeloop’s growth trajectory and breakthrough potential.
Catherine Dunand, Chairman of the Board at Diabeloop, expressed gratitude for the continued support of existing investors and welcomed the participation of new financial and industrial shareholders, highlighting Diabeloop’s commitment to driving value creation for patients and establishing itself as a trusted leader in the dynamic diabetes market.
Since securing the highest recorded European financing round in Therapeutic Artificial Intelligence in 2019, Diabeloop has made significant strides, launching two CE-marked products and equipping several thousand patients in less than a year. The company’s data visualization platform serves as a telemedicine and remote patient monitoring solution, further enhancing its impact in diabetes management.
As Diabeloop continues to innovate and expand its product offerings, including adaptation to the Connected Pen market and development of smart-watch devices, the company remains dedicated to improving the lives of individuals living with diabetes worldwide.
