SocialDiabetes has been the only Health project to receive investment under the Innovative SME Facility of the European programme. Horizon 2020. The platform has thus obtained the highest score for impact, excellence, quality and efficiency of implementation.
About SocialDiabetes
SocialDiabetes is a diabetes self-management platform founded in 2011 by Victor Bautista after being diagnosed with diabetes. The app calculates the correct dose of insulin to inject taking into account several variables, such as food intake, exercise and the doctor's own instructions, allowing diabetics to lead a normal life.
Social Diabetes has been recognised with several awards, in 2012 Unesco recognised it as the best app in the M-health category and in 2014, it won the Big Impact Award at the Mobile World Congress. In 2013, the company received a small round of investment from several business angels with experience in the health sector and Caixa Capital Risk.
What did they appreciate about the project?
The European Commission has particularly appreciated the positive impact that the widespread use of a solution such as SocialDiabetes can have on the healthcare system. The direct cost of diabetes is estimated at more than 700 billion dollars per year worldwide. A truly global challenge that can only be efficiently addressed with digitised health management and an empowered patient at the heart of personalised treatment.
In addition, the European Commission has also valued the fact that it is an innovative company, with the capacity to implement its offer in the global market.
The funding will be used to make product improvements using big data technology and the Internet of Things (IoT) and to continue to grow internationally.
Other companies in the field of Diabetes that have received investment in March 2017
Livongo
Livongois a California-based startup founded in 2014, which has received a $52M round, adding to the $91M raised earlier. The company provides its customers with real-time, personalised information and support to facilitate diabetes management. Livongo will use part of the round to expand its capabilities beyond diabetes. The company targeted high blood pressure and high cholesterol, both of which are highly correlated with diabetes, as possible areas of expansion.
Virta
Virta is changing the way Diabetes is treated, with innovations in nutritional biochemistry, data science and digital tools combined with clinical expertise. The company, which is also based in California, has just received a $37M round, which was led by Venrock.
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