Movano Closes Bridge Financing Round at $12.5M

Movano Inc., a health-focused technology company dedicated to enhancing the quality of life for people affected by chronic health conditions, including diabetes, has closed its bridge round at $12.5M. Since its founding in 2018, Movano has raised nearly $30M to create a wearable non-invasive continuous glucose monitor that is painless, smart and simple.

The additional funding will be used to expand both internal and external testing efforts. The capital will also help accelerate the process of miniaturizing Movano's technology into a single chip that can fit inside a wearable.

"Covid-19 is shining a spotlight on how devastating chronic disease can really be, illuminating a critical need for technology, like CGMs, that can manage and prevent chronic diseases," said Michael Leabman, founder and CEO of Movano. "People with chronic conditions such as diabetes want to set, measure and achieve health objectives without it coming at a cost to their health, wallet or lifestyle. By developing a more affordable and non-invasive solution that provides painless real-time glucose readings at the glance of a wrist, our wearable is expected to represent a new intersection of healthcare and technology that positions the patient at the center of managing their own health."