Healthy.io raises $50M to expand smartphone kidney test in U.S.
Smartphone urinalysis company Healthy.io announced Wednesday it had wrapped up a $50 million funding round.
The Series D, which also includes a previously unannounced $45 million raise from early last year, was led by Schusterman Family Investments, with participation from Aleph and existing investors.
Healthy.io said the funds will be used to expand in the U.S. The company has offices in Boston, London and Tel-Aviv.
According to reporting by Israeli business publication Calcalist, the company is also laying off 70 employees, or about a third of its workforce, largely based in Israel and the U.K.
“We thank our investors for this significant vote of confidence. Since the next phase of our growth will focus on commercialization in the U.S and serving the millions of Americans who are untested for chronic kidney disease, we are readjusting our workforce in Israel and the UK to support this strategy,” a Healthy.io spokesperson wrote in an email to MobiHealthNews.
