Biolinq Secures $100 Million Series C

Biolinq, a maker of a biowearable glucose sensor platform, has closed a $100 million Series C financing round led by Alpha Wave Ventures, with participation from existing investors including RiverVest Venture Partners, AXA IM Alts, LifeSci Venture Partners, M Ventures, Hikma Ventures, Aphelion Capital, Taisho Pharmaceutical, and Features Capital.

The new funds will be used by Biolinq to support its transition to commercialization as it advances toward regulatory approval following the completion of a U.S. trial.

Biolinq’s intradermal biosensors are used to improve metabolic health, particularly for individuals with Type 2 diabetes that are not using insulin. The company’s first-generation product is a wearable glucose sensor patch that utilizes an array of micro-electrochemical sensors embedded just beneath the skin to deliver real-time glucose readings. 

A key feature of the product is a color-changing indicator that delivers feedback based on glucose levels, aiding user awareness and contributing to proactive health management.

, led by CEO , was founded in 2012 by Jared Tangney and Dr. Ben Hwang and is headquartered in San Diego.

“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,” said Rich Yang, the CEO of LifeSci Venture Partners. “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.”

Biolinq’s first-generation patch is designed to be user-friendly and supports future development of multi-analyte capabilities, extending potential applications beyond glucose monitoring.

Though the sensor has not yet received FDA clearance, it represents a shift toward minimally invasive biowearable diagnostics. Biolinq’s technologies are designed to be user-friendly and can support future development of multi-analyte capabilities, extending potential applications beyond just glucose monitoring.

“Biolinq has assembled world-class experts in biosensor technology, consumer electronics, and semiconductor manufacturing to redefine the biowearables category,” said Rick Gerson, chairman of Alpha Wave Global. “With a highly differentiated product, Biolinq is well-positioned to expand the biosensor market.”

“Biolinq is unlocking a new era of biosensing technology, making glucose information simpler and more accessible,” said Dan Bradbury, the chairman of Biolinq. “This technology has the potential to help restore metabolic health for millions of people living with Type 2 diabetes not using insulin.”

Alpha Wave Global is a global investment firm established in 2018 and headquartered in Miami, Florida. The firm invests in growth-stage companies across healthcare, technology, and financial services. Alpha Wave targets businesses with minimum revenues of $20 million and EBITDA of at least $5 million. Its most recent fund, Alpha Wave Ventures II LP, closed in July 2022 with $2 billion in commitments.