Bluesemi announces that it plans to raise $1 Million. A healthcare startup that had successfully created ‘Eyva’. World’s first non invasive blood glucose level measuring device. Currently Bluesemi is looking to raise $10 million, about Rs 82 crore approx. as part of its Series-A fundraise.
Bluesemi founder and CEO, Sunil Maddikatla said, “We are in advanced talks with global venture capital funds for our proposed Series-A fundraise. We expect to close the round in the third quarter of the current fiscal year. “
He further added, “Our vision is to make glucose monitoring easy, painless and accessible for everyone, regardless of their location, socio-economic background, or health status. We believe that the funds raised in our Series-A round will allow us to continue to make a positive impact on people’s lives.”
How does Eyva work? Eyva is a device which uses spectroscopy and AI to detect the level of glucose without letting the blood come out.
The Hyderabad based startup has various products under the HealthTech solutions, such as remote patient monitoring, telemedicine, and healthcare analytics. The startup aims to bring in positive changes and improvements in the healthcare sector by tapping into new age technology and by reducing costs.
The plan to raise funding comes after the recent success of Bluesemi’s in the Indian healthtech market. The startup has seen significant growth in recent months, with its products gaining more traction among healthcare providers and patients.
The company will further focus on brining in innovation with the help of new age technology and data analysis while being on the same page with the startup ecosystem to keep up with the trends in the industry.
In future, the funding will be used to further expand the company’s product offerings and scale its operations in India and other markets.
