Diabetes startup mySugr announced today that it has completed a capital increase of $4.8 million with support from new investment partners Roche Ventures and iSeed Ventures. Existing partner XLHealth also participated in the investment round.
Founded in 2012 by people with diabetes, mySugr creates digital health solutions for people living with the condition. Its products are characterised by an intelligent combination of design, technology, and medical expertise focused on diabetes. Particularly well-known is the mySugr Logbook with more than 200,000 registered users across US and Europe.
Commenting on the capital increase that will be used to accelerate international growth, Frank Westermann, CEO of mySugr, said: “We are very excited that these two fantastic investors have joined us in our mission: to make diabetes suck less. Roche Ventures brings with it many decades of diabetes industry know-how and iSeed Ventures has expertise in the digital health market with access to the United States and China, two of the most important global diabetes markets.”
Simon Meier, Investment Director for Roche Ventures, said: “The passion and unique composition of mySugr impressed us right away. Nearly half of the company lives with diabetes which drives an environment of unmatched understanding, precise problem solving, and beautiful solutions through the entire organisation. We’ve seen nothing like mySugr before and are thrilled to back them.”
Adam Lin, iSeed Ventures, said: “mySugr is the first investment outside of our core markets of US and China where diabetes is a challenge for society as a whole. We are convinced that mySugr has great worldwide potential.”
Johann Hansmann, Business Angel of the Year and mySugr Investor, said: “$4.8 million is the largest digital health investment in the German speaking area and is further testament to the strength of Vienna as a startup location.”
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