Bio-integrated sensor developer Sibel Health announced today that it closed a $33 million Series B financing round.
Niles, Illinois-based Sibel, spun out of the world-renowned John Rogers Research Group and the Querrey Simpson Institute for Bioelectronics at Northwestern University, has now raised more than $50 million to date.
Steele Foundation for Hope, a private foundation funding technology and innovation, led the funding round, according to a news release.
The company said that the funding will support its FDA-cleared Anne One platform for global deployments across the continuum of care from the home to the hospital. Its transition to scaled commercialization has been accelerated by funding, including from Fortune 500 companies and the U.S. Military, National Institutes of Health (NIH) and the Bill & Melinda Gates Foundation.
Anne One includes advanced wearable sensors, AI-enabled data analytics, and an integrated mobile software and cloud platform.
“What makes us unique as a digital health company is that our product is vertically integrated—we believe that everything matters, from the adhesive we place on the skin to how the sensor fits on the body to the final alert a clinician sees for medical decision-making,” Sibel CEO and co-founder Dr. Steve Xu said in the release. “We’re proud that our technology can be potentially deployed in both the neonatal intensive care unit and in the home for remote patient monitoring.”
In addition to the funding, Sibel appointed Jon Otterstatter — former CEO and co-founder of Preventice, which was acquired by Boston Scientific — as chair of the board. Matthew Banet, an expert in advanced body-worn sensors and previously CTO and co-founder of toSense and Sotera, joins as president of the company from Baxter.
“I look forward to joining Sibel as chairman of the board in this time of rapid acceleration and growth,” Otterstatter said. “The company’s advanced wearable monitoring platform is industry-changing—the comprehensive suite of on-body sensors, best-in-class analytics, robust machine-learning algorithms and extensible software capabilities make the Anne One platform a very unique offering. I look forward to supporting Sibel’s transition towards commercial scale.”
