California mobile devices maker iHealth is undergoing a major shift, fueled by a $25 million investment from Xiaomi Ventures, the company’s 1st institutional round of funding.
The company shortened its name (formerly iHealth Labs) and is expanding into 3 operating divisions: the Americas (based in Mountain View, Calif.), Europe (based in Paris, France) and Asia Pacific (based in Hong Kong).
iHealth remains a subsidiary of Andon Health, which continues to manufacture and supply hardware, according to a press release.
iHealth said it plans to use part of its new funds to "continue expanding iHealth’s global reach, accelerate growth and innovation, and invest in additional sales and marketing resources." Xiaomi also joined iHealth’s board of directors.
The Silicon Valley company has been moving fast since its launch in 2010. The company released its 1st product in 2011, a smartphone-friendly blood glucose monitor, and added a wireless blood pressure monitor in 2012 and a wireless blood glucose monitor in 2013. iHealth’s were the 1st devices carried in Apple retail stores, and they’re also available at Walgreens, Best Buy, Amazon and other retailers.
Earlier this year iHealth announced FDA clearance for its Align mobile blood glucose monitor, vowing to lower prices on its proprietary testing strips to cut out insurance companies.
