Thailand-based Disrupt Health Impact Fund closed its first deal by investing in DiaMonTech, a Germany-based deep tech startup developing a non-invasive glucose measurement innovation, in an extension fundraising round that raised around US$5 million from investors.
Earlier DiaMonTech raised $20 million from various investors such as Samsung Venture and Medtronics.
Krating Poonpol, chairman of Disrupt Health Impact Fund, said DiaMonTech plans to commercialise its product in 2025.
He said the investment in the startup aligns with the health tech and self-care global trends.
This technology not only addresses a critical market need, but also offers vast potential for global scalability, targeting both diabetic patients and health-conscious consumers, said Mr Krating.
The self-care market is gaining traction, spurred by a global shift towards value-based healthcare and a rising consumer focus on health maintenance.
This trend is expected to propel the self-care medical device market from $24.4 billion in 2023 to $42.6 billion by 2032, he said.
Mr Krating said the fund will seek core partners in hospitals to distribute the DiaMonTech device.
Jantanarak Tuekaew, partner at Disrupt Health Impact Fund, said the startup is the inventor and patent holder of a revolutionary technology that measures blood glucose levels non-invasively.
Simply placing a finger on the device provides a glucose level reading in just 30 seconds, making it more convenient and allowing more frequent use than traditional blood draws.
This is particularly beneficial for 530 million diabetics worldwide, as it facilitates easier daily management of their condition, said Ms Jantanarak.
Given the chronic nature of diabetes and its potential to lead to further complications, and with 5.2 million people with diabetes in Thailand, which is roughly one in 11 people, this technology should significantly ease self-care routines, she said.
Naranpat Thitipattakul, another partner at the fund, said this technology is hard to replicate, developed from more than a decade of research by a professor at Goethe University.
Thorsten Lubinski, co-founder and chief executive of DiaMonTech, said the blood glucose meter, called D-pocket, is awaiting Food and Drug Administration approval before its market launch.
He said the investment and partnership with Disrupt Health Impact Fund will enable expansion and meaningful opportunities throughout Southeast Asia for people living with diabetes who monitor their blood sugar for preventive healthcare.
DiaMonTech invented a device that measures blood glucose levels in 30 seconds by placing a finger on it, a more convenient method than traditional blood draws.