Siren Care, a developer of smart socks for diabetic patients that track foot temperature and foot ulcers, announced an additional raise of $9 million for the company’s Series B financing.
The company previously raised $11.8 million earlier this year, led by Anathem Ventures with participation from existing investors DCM, Khosla Ventures, 500 Startups, and Founders Fund.
This final close puts the total Series B at nearly $21 million and included participation by all existing investors and new investors, Manta Ray, Mighty Capital, Portfolia, and David Helgason.
“DCM has been early supporters of Siren, and we look forward to the company’s growth as it continues to bring its FDA-registered SaaS product to millions of at-risk diabetic neuropathy patients,” said Jason Krikorian, general partner at DCM and Siren board member.
According to the company, its temperature monitoring sock connects wirelessly to a software application that serves at-risk populations. Healthcare practitioners can detect early signs of inflammation in patients at risk of developing diabetic foot ulcers, using temperature monitoring sock, the company said.
Founded in 2015 by Ran Ma, Henk Jan Scholten, and Jie Fu, Siren Care has raised almost $25 million to date. The company employs more than 20 people with an office in San Francisco, California.
“Our patients are some of the most vulnerable and underserved populations. To further serve our patients, Siren is also rolling out cellular connectivity, which means users can use the product anywhere with access to an electrical plug; no smartphone, WiFi, or setup required,” said Ran Ma, CEO and co-founder of Siren.
Wearable Sensors companies raised $321 million in the first half of 2020, according to the latest Mercom funding report. Recently, BioIntelliSense, a medical-grade on-body sensor for scalable remote care, raised $12 million. Element Science, a provider of patch-based wearable monitors that monitors heart health, raised $145.6 million.
Image Credit: Siren Care
