Koch Disruptive Technologies has announced an investment in Sight Diagnostics alongside global crowdfunding platform OurCrowd. Sight Diagnostics is a long time portfolio company of OurCrowd. The Series D funding raised a solid $71 million. Total funding now tops $124 million. A valuation of the Medtech firm was not provided.
Sight is a company that has developed the first FDA-cleared fingerstick Complete Blood Count (CBC) analyzer. The company is competing in the space that Theranos attempted to enter but actually providing a service that works. The tech is being used at Sheba Hospital to minimize risks during the Covid crisis.
In a release, President of Koch Disruptive Technologies, Chase Koch, stated:
“We firmly believe that Sight’s method of using machine vision to analyze blood is a significant leap forward from the current alternative in healthcare. Not only is the company bringing truly innovative solutions to the blood diagnostics industry, it is also driving a vision to decentralize information and increase consumer access in healthcare markets across the world.”
Jon Medved, CEO of OurCrowd, added:
“OurCrowd is excited to deepen our relationship with Sight during the company’s next phase of growth. Sight’s technology has been clinically tested and validated by leading healthcare institutions and we have no doubt it is pioneering the next generation of blood diagnostics.”
Founded in 2011, “Sight OLO” delivers lab-grade CBC results by measuring 19 different blood parameters in minutes from either a fingerstick or a venous sample.
Yossi Pollak, CEO and co-founder of Sight Diagnostic, said the additional funding will enable Sight to substantially expand their U.S. footprint and “help usher in a new era of AI-driven diagnostics for a myriad of diseases and health condition.”
Thus far, Sight reports that it has secured contractual agreements with healthcare providers and distribution partners to deploy more than 1,000 analyzers over the coming years. In parallel, Sight says it is working with large pharmaceutical companies, including Pfizer, to provide support for different treatments and therapies.
Since the pandemic enveloped the world, Sight has deployed its Sight OLO analyzer in frontline healthcare facilities outside of the United States fighting COVID-19, including the Sheba Medical Center at Tel Hashomer, Israel.
In the US, Sight OLO is 510(k) cleared for use in moderate complexity laboratories but has not yet been cleared for point-of-care use.
Outside of the United States, Sight OLO is CE Marked according to the IVD European directive and approved by the Australian TGA for point of care settings.
OurCrowd, one of the largest online investment platforms in the world backing early stage ventures, has reported over 35 exits since platform launch.
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