Digital Insulin Management Company Hygieia Closes on $17 Million Series B Investment Round
Funding will enable expansion of company’s AI-driven d-Nav® technology, which automates real-time insulin dose recommendations for people with type 2 diabetes
LIVONIA, Mich.–(BUSINESS WIRE)–December 2, 2021–
Hygieia, a digital health company for insulin management, has closed on an initial $17 million Series B investment round, led by Israeli venture capital firm Firstime Ventures, and with participation from existing investors.
Hygieia will use the funding to expand partnerships with endocrinology practices and expand access to its unique d-Nav® insulin dose automation technology for people with type 2 diabetes.
d-Nav takes the guesswork out of insulin by telling patients exactly how much insulin they need the moment they inject. d-Nav is the first FDA-cleared technology to adjust a medication dose directly to the patient. d-Nav technology has prescribed more than 5 million insulin doses to date. Nearly 90 percent of users reported lower A1c within 90 days of starting the d-Nav program.
“This funding is a key vote of confidence in our technology, signaling a seismic shift in the way patients and their physicians can better manage insulin therapy,” said Eran Bashan, Ph.D., CEO and co-founder of Hygieia. “We have already partnered with the leading endocrinology practices in Southeast Michigan, and this new funding will help us develop similar partnerships throughout Michigan and beyond.”
Hygieia expects to have endocrinology partnerships in 10 states over the next two years. Currently, Hygieia has two international licenses, in Northern Ireland and in Israel. Clalit, the largest integrated health system in Israel, is launching a pilot program with Hygieia this month.
“Hygieia’s d-Nav technology is easily accessible through an app on the phone. We believe this technology is a game changer for the millions of people with type 2 diabetes who inject insulin, reducing the burden of disease management while substantially improving blood sugar levels,” said Keren Kopilov, of Firstime Ventures. “Hygieia matches the focus of our third fund, which invests in companies with trailblazing technologies that are aligned with the UN Sustainable Development Goals and perform digital transition in healthcare and the battle against the climate crisis.”
For more information on Hygieia’s d-Nav insulin management technology, go to d-Nav.com.
About Hygieia/ d-Nav Insulin Management Program
Hygieia is a specialty provider of insulin therapy and maker of the d-Nav® Insulin Management Program. The d-Nav program includes an AI-powered application that helps people with type 2 diabetes use insulin in a safe and effective way to control their blood sugar levels. Studies show that nearly 90 percent of people using d-Nav achieve lower A1c within three months. The d-Nav Insulin Management Program was developed by two University of Michigan researchers and has been peer-reviewed with studies published in leading medical journals. Hygieia is headquartered in Livonia, Michigan. Learn more at d-nav.com.
About Firstime Ventures
Firstime Ventures invests in companies that are building a sustainable and accessible future for all. With over $200M in assets under management in more than 30 companies, Firstime Ventures looks for founders who are helping to solve the world’s most urgent challenges including accessible and affordable healthcare, renewable energy, food security and the climate crisis. Firstime Ventures is based in Tel Aviv, Israel. Learn more at Firstime.vc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005233/en/
Media Contact: Debbie Reinheimer, [email protected], 248-227-3667
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