Sight Diagnostics Secures $27.8M Series C Funding to Advance OLO Rapid Blood Testing Platform

VCBeat (WeChat ID: vcbeat) has learned that Sight Diagnostics recently completed a $27.8 million Series C financing round to promote its blood testing platform, OLO.

This round of financing was led by Longliv Ventures, with follow-on investments from three institutions—OurCrowd, Go Capital, and New Alliance Capital (Lianxin Capital)—as well as individual investors Jack Nicklaus II and Steven Esrick. Upon completion of this funding round, Sight’s total capital will reach $52.8 million.

Sight Diagnostics is an Israeli medical device company dedicated to rapidly delivering laboratory-grade blood test results.

It is understood that blood tests conducted in advanced laboratories are currently expensive and involve long waiting times for results. On average, in the United States, the cost of completing a blood test ranges from $100 to $1,500. In developing countries, prices are even higher due to the lack of necessary equipment.

Sight Diagnostics’ flagship product, OLO, addresses the aforementioned challenges. Although the OLO platform is only about the size of a toaster oven, it delivers powerful performance. Leveraging sophisticated computer vision algorithms and AI-driven scanning, the system generates rich digital images of blood samples under microscopy, rapidly and accurately identifies cell types within the samples, and completes complete blood count (CBC) testing within ten minutes.

The OLO platform was first used for malaria detection in 2014. In early 2018, it received CE certification after completing clinical trials at Shaare Zedek Medical Center in Israel. To date, the platform has performed over 600,000 tests across 25 countries.

“We are dedicated to creating flat layers of hundreds of billions of cells on glass slides, making blood testing simple and efficient,” said Sarah Levy, Chief Technology Officer at Sight. “The launch of the OLO platform will shorten physicians’ diagnostic time and enhance the patient care experience.”

It is reported that the OLO platform has currently been deployed in multiple European healthcare systems and is undergoing clinical trials at Columbia University Irving Medical Center and Boston Children’s Hospital in the United States. In the future, Sight will also develop a cloud-based remote scanning service.

Longliv Ventures is a venture capital firm that primarily invests in startups in the digital health sector.

OurCrowd, established in October 2012, is a venture capital firm that primarily provides funding to startups within Israel.

GO CAPITAL is a France-based private equity fund established on February 10, 2003. The firm is dedicated to investing in high-growth, high-potential startups. It currently manages assets exceeding €130 million.

New Alliance Capital, established in Shanghai in 2008, is a fund management company specializing in private equity and venture capital investment. It is committed to investing in sectors such as technology, media, healthcare, and environmental protection. To date, the company has completed over 60 investments and manages assets exceeding RMB 10 billion.

(Compiled by Feng Yutong)