OurCrowd has joined in the Series C funding of Medtech firm Sight Diagnostics. The company is creating a lab-grade point-of-care blood diagnostics system “OLO.” This system is designed to provide patients with lab-grade blood testing results in minutes rather than days by combining AI with a method to ‘digitize’ blood. OurCrowd has previously invested in the company.
The Series C totaled $27.8 million and was led by Longliv Ventures, a member of the CK Hutchison Group. Other investors that joined the round included Jack Nicklaus II, a healthcare philanthropist and board member of the Nicklaus Children’s Health Care Foundation, Steven Esrick, a healthcare impact investor, and an additional major medical equipment manufacturer. Also joining Sight’s Series C are existing investors Go Capital and New Alliance Capital.
Sight Diagnostics is somewhat similar to Theranos, the company that failed in its attempt to create a retail version of a blood testing system. Theranos collapsed as the company was never able to execute on their concept.
Sight’s mission is to improve health by providing fast, accurate, and pain-free testing. The company will use the funding to continue the global expansion of its lab-grade point-of-care blood diagnostics system, OLO. The system allows patients to receive their blood test results within minutes at the point-of-care, rather than making them wait days to receive results.
OLO needs just a finger-prick to take a detailed image of blood and then analyzes. Unlike prior blood analyzers, OLO may be used by non-professional users. According to the company, it is simple to use and requires little to no maintenance.
Yossi Pollak, co-founder and CEO of Sight Diagnostics says they are already seeing positive traction across Europe and they are currently seeking additional strategic partners who can help us deploy OLO to major markets throughout the world.
For more information on OLO, please visit www.sightdx.com.
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