Zurich – OneTwenty is using the funds from a first financing round to commercialize its solution for individual diabetes care. Currently, the Medtech startup is actively seeking additional partners for the integration of this solution into their insulin pumps, pens, and blood glucose sensors.
The Zurich-based Medtech startup OneTwenty has secured a "significant capital injection" for its diabetes management technology in a first financing round, according to a press release. This round was led by the Cologne-based venture capital firm Dieter von Holtzbrinck Ventures. The Tiny Supercomputer Investment Company and the experienced healthtech investor Tim Jürgens have also invested.
Founded in 2022, OneTwenty specializes in the development of algorithms that improve the functionality of diabetes devices. The company's proprietary technology called bioX is said to be the first on the market that is able to understand the intricacies of human metabolism. It can be seamlessly integrated into insulin pumps, smart pens and blood glucose sensors. "Our advanced machine learning solutions demystify the body's responses to everyday activities, medications, and stressors," stated CTO and co-founder Dr. Julian Stiels. "They herald the new era of truly individualized diabetes care."
The capital will reportedly be invested in the commercialization of the autonomous closed-loop system and in new medical technology and pharmaceutical partnerships. CEO and co-founder Michael Rottmann emphasizes the particular importance of this financing in a year in which investment in healthcare technologies fell by a double-digit percentage: "We have doubled our team since then and are accelerating our growth course to meet the increasing demand for our innovative technology." ce/mm