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Eye-based glucose monitor developer expands series A

 
• By Tina Tan

Freedom Meditech, a developer of noninvasive ophthalmic devices for monitoring glucose levels in diabetics, has expanded its series A financing after raising an additional round of funds. The amount invested in the second tranche was not disclosed. Participants in the round include existing shareholder JumpStart Ventures and various individual investors. Additionally, the company welcomed new investor Catherine Stiefel, a long-time director of Stiefel Laboratories and now also a director on Freedom's board. Cleveland, Ohio-based Freedom is developing a handheld device that is designed to provide immediate glucose level readings by shining a light in the eye.

Freedom Meditech, a developer of noninvasive ophthalmic devices for monitoring glucose levels in diabetics, has expanded its series A financing after raising an additional round of funds. The amount invested in the second tranche was not disclosed. Participants in the round include existing shareholder JumpStart Ventures and various individual investors. Additionally, the company welcomed new investor Catherine Stiefel, a long-time director of Stiefel Laboratories and now also a director on Freedom's board. Cleveland, Ohio-based Freedom is developing a handheld device that is designed to provide immediate glucose level readings by shining a light in the eye.

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