Tuesday, August 6, 2013

Freedom Meditech Raises $7M For Diabetes Monitoring

San Diego-based Freedom-Meditech, which is developing a medical device which measures blood sugar by monitoring a user's eyes, has raised $7M in a Series B funding round. The company said the funding comes from both new and returning investors, however, the firm did not name those investors. As part of the funding, the company said it has added former Fidelity Investments portfolio manager Andy Sassine to its board of directors. Freedom-Meditech is developing a non-invasive, blood glucose measuring tool which is used by holding a small, handheld device in front of a user's eye. The firm said it has now raised $10M in funding. More information »