Healthy.io Secures $60 Million Series C Funding to Advance Smart Urine Analysis System for Chronic Kidney Disease

On September 16, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Healthy.io, a global leader in medical devices, announced the completion of a $60 million Series C financing round. The round was led by Corner Ventures, with participation from Joy Capital, Ansonia Holdings, Aleph, and Samsung NEXT.

Healthy.io will leverage the funds from this financing round to accelerate its product development and global market expansion. Additionally, the company’s smartphone-based urine albumin-to-creatinine ratio (ACR) testing system has received FDA approval for the diagnosis of chronic kidney disease (CKD).

It is reported that Healthy.io previously completed an $18 million Series B financing round, led by VC Aleph and participated by Samsung NEXT.

Healthy.io, founded in 2013 and headquartered in Tel Aviv, Israel, is a digital health company. The company primarily develops medical imaging technologies based on artificial intelligence to provide specialized diagnostic and therapeutic services for patients with chronic kidney disease (CKD).

Healthy.io’s first product is Dip.io, the world’s first clinically approved smart home urine analysis system. This product effectively integrates smartphones with clinical-grade urine analysis devices, enabling users to perform urine tests through simple smartphone scans.

Healthy.io stated that Dip.io has obtained CE certification and ISO 13485 certification, qualifying it for sale in European Union countries. Furthermore, the product has secured FDA clearance for market entry, enabling its sale in the United States. Currently, Dip.io has surpassed 100,000 users.

In addition, Healthy.io has developed another ACR urine analysis test kit, enabling patients with diabetes and hypertension to screen for kidney disease at home. The product has achieved 99% usability and has been widely adopted across Europe.

The FDA has authorized healthcare professionals to use Healthy.io’s smartphone-based ACR testing system at any point of care, deeming its performance substantially equivalent to tests conducted in professional medical facilities. Pharmacies, urgent care centers, and health clinics can utilize this system for disease detection without relying on laboratories. Additionally, the product enables instant integration with patients’ electronic medical records (EMR) via mobile phone scanning.

Approximately 10% of the global population suffers from kidney disease, and chronic kidney disease (CKD) has become the ninth leading cause of death in the United States. One-third of American adults have CKD, yet more than 70% do not undergo routine screening. U.S. Medicare has spent approximately $114 billion on the treatment of patients with kidney disease. Undoubtedly, early screening and convenient testing products for kidney disease are critically important for the clinical management of patients worldwide.

Corner Venture, established in 2019 and headquartered in California, USA, is a venture capital firm. The company primarily provides financial support and strategic partnerships to startups.

Joy Capital, established in 2015 and headquartered in Beijing, China, is an early-stage venture capital firm. The company focuses on the sectors of technology, media, telecommunications, and innovative consumer goods.

Ansonia Holdings, established in 2014 and headquartered in Central Singapore, is a financial services and asset management company.

Aleph, founded in 2013 and headquartered in Tel Aviv, Israel, is a venture capital and financial services firm primarily investing in innovative technology sectors.

Samsung NEXT, established in 2013 and headquartered in California, USA, is a venture capital firm. The company focuses on the mobile internet and healthcare sectors.

(Compiled by Xu Xiaoxue)