Sibel Health Secures $30M Series C Funding and Seventh FDA Clearance

Chicago-based patient monitoring company Sibel Health has announced the closing of a $30 million Series C equity financing round led by Steele Foundation for Hope with participation from existing investor Dräger. The funding coincides with the company's seventh FDA clearance, which enables alarms, alerts, and a central station for its ANNE One platform.

Sibel Health, a Northwestern University spin-out, has developed the ANNE One platform featuring advanced wearable sensors, AI-enabled data analytics, and an integrated mobile software and cloud platform for wireless monitoring of patients' vital signs. The system is approved for patients 12 years and older and consists of two main components: the Anne Limb, which measures skin and body temperature, and the Anne Chest, which monitors heart and respiratory rates, step count, fall count and skin temperature.

The new funding will accelerate commercial deployment of the ANNE One monitoring platform in both the United States and European markets.

Dr. Steve Xu, cofounder and CEO of Sibel Health, highlighted the critical need for their technology: "There are almost one million hospital beds in the U.S. The majority of them are not monitored continuously. Many people are surprised to know that the majority of patient deaths happen outside of the ICU – something unexpected in an unmonitored bed."

He added, "This new Series C will accelerate Sibel's commercial expansion of our medical wearables in the U.S. and Europe so we can bring continuous vitals to every hospital bed while also reducing nursing burden."

The funding announcement follows several key developments for the company. In December, Sibel Health secured a long-term partnership with the capital region of Denmark in conjunction with Dräger, a medical safety technology company that previously led Sibel's Series A funding with a $10 million contribution.

In 2023, the company introduced its physiological monitoring platform called Discovery for clinical trial use and announced a partnership with Medidata, an AI-powered clinical trial solutions company. That same year, Sibel received FDA 510(k) clearance for continuous neonate and vital sign monitoring for infants born at any gestational age up to 2 years old with its ANNE One platform.

Prior to this latest funding round, Sibel raised $33 million in Series B funding in 2022, also led by the Steele Foundation for Hope.

Click here for the original news story.