Fundraising: Diabeloop gets a €31 million boost
Categorie(s) : Industry, Innovation & Society, News
Published : 5 February 2020
Startup Diabeloop, which just moved into the BHT2 building, completed an impressive €31 million fundraising round at the end of November. The influx of funds will support three of the company’s flagship activities: R&D to improve the DBLG1 automatic type 1 diabetes management system; clinical trials on teens and patients with very unstable forms of diabetes; and sales in France and international markets.
Diabeloop will soon apply for US FDA* approval for the DBLG1. The approval processes are also moving forward in France and Germany.
The startup, which was selected to receive support under the French Tech 120 program, currently employs 70 people, two-thirds in Grenoble. Diabeloop plans to make a number of new hires in 2020.
*Food and Drug Administration