NEW YORK – Sight Diagnostics of Israel said on Wednesday that it has raised $71 million in Series D funding, bringing its total funding to date to more than $124 million.
Koch Disruptive Technologies, Longliv Ventures, and OurCrowd participated in the round.
The company, based in Tel Aviv, said it will use the new funding to support the expansion of its commercial operations globally and advance its R&D into the detection of new diseases as well as blood factors affecting COVID-19 severity.
Founded in 2011, Sight Diagnostics has developed new blood testing technology. Its Sight OLO blood analyzer captures more than 1,000 highly detailed images from two drops of blood obtained from a finger prick or venous sample and interprets these images using proprietary automated artificial intelligence algorithms.
"We firmly believe that Sight’s method of using machine vision to analyze blood is a significant leap forward from the current alternative in healthcare," said Koch Disruptive Technologies President Chase Koch in a statement. "Not only is the company bringing truly innovative solutions to the [complete blood count] industry, they are also driving a vision to decentralize information and increase consumer access in healthcare markets across the world."
In late 2019, Sight Diagnostics received 510(k) clearance from the US Food and Drug Administration for its OLO analyzer. Since then, the firm has secured contractual agreements with healthcare providers and distribution partners to deploy 1000-plus analyzers over the coming years and will use the recent funding to meet this demand. Since the pandemic, Sight has deployed its Sight OLO analyzer in frontline healthcare facilities fighting COVID-19, including Sheba Tel Hashomer medical center.
"This new investment will enable Sight to substantially expand our US footprint and help usher in a new era of AI-driven diagnostics for a myriad of diseases and health conditions," Sight Diagnostics CEO and cofounder Yossi Pollak said in a statement. "We’re glad to have Koch, OurCrowd, and other esteemed investors join us on our journey to improve health systems and patient outcomes through fast, accurate, and less painful diagnostics."