Biolinq, a health technology company developing precision multi-analyte wearable biosensors for metabolic health, has raised $100 million in Series C funding. The investment round was led by Alpha Wave Ventures, with participation from existing investors including AXA IM Alts, M Ventures, LifeSci Venture Partners, RiverVest Venture Partners, Hikma Ventures, Taisho Pharmaceutical, Features Capital, and Aphelion Capital.

The California-based company has developed a wearable patch that monitors glucose levels and provides metabolic health insights specifically designed for individuals with type 2 diabetes who are not on insulin therapy. The technology utilizes small electrochemical sensors to measure glucose levels from the intradermal space just beneath the skin's surface, combining this data with activity and sleep information in a single device.

"This financing will bolster Biolinq's commercial readiness efforts while we pursue regulatory approval for the first intradermal glucose sensor that incorporates activity and sleep information into a single wearable device," Rich Yang, CEO of Biolinq, said in a statement. "Our team has spent the last decade developing a biosensor platform designed to inspire healthier living by providing context around a person's metabolic health."

Currently, Biolinq's glucose sensor remains an investigational device that has not received FDA clearance or approval. The new funding represents a significant step forward in the company's ongoing development journey, which has seen steady financial support over recent years.

In previous funding rounds, Biolinq secured $58 million in financing last year, which the company allocated toward FDA submission and clinical trials for its glucose sensor. Prior to that, the company raised $4.75 million in extended Series A financing in 2019 and $20 million in Series A funding in 2017.

The glucose monitoring market continues to see significant innovation and investment. Among Biolinq's competitors is Allez Health, which offers a continuous glucose monitoring (CGM) biosensor platform that leverages sensor technology to enhance patient performance through analysis of diverse health-related datasets. Allez Health secured $60 million in Series A+ financing last year.

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