HAGAR, the startup behind GWave, a non-invasive continuous glucose monitoring system, successfully secured a $5 million Series C funding round, bringing its total funding to $25 million. The startup recently showcased its latest clinical findings at the 83rd Scientific Sessions of the American Diabetes Association (ADA).
GWave's unique RF (radio frequency) wave technology offers real-time, precise blood glucose monitoring. Unlike other devices that measure glucose in the interstitial fluid, GWave focuses directly on the blood, promising higher accuracy. The device also boasts seamless Bluetooth and smartphone integration, allowing users to effortlessly monitor their glucose levels. A notable feature of GWave is its automated alert system, which notifies users of significant glucose changes.
The recent study, led by Professor Ami Navon from the Weizmann Institute of Science, involved 75 participants of varied age, gender, and race. The group comprised 34 individuals with diabetes (82% with Type I), ten pregnant individuals with diabetes, and 31 non-diabetic participants. The study emphasized GWave's accuracy, especially during a glucose challenge. The device achieved a mean MARD of 6.7%, with 97% of readings in Zone A and 3% in Zone B of the Clarke Error Grid.
Furthermore, a hypoglycemic test involving Dr. Irl Hirsch and his brother, James Hirsch, a renowned journalist and author, further underscored GWave's precision. Dr. Hirsch's glucose levels dropped from 180 to 46, with GWave providing accurate monitoring throughout.
HAGAR's ongoing research aims to highlight GWave's superior accuracy and efficiency. The end goal is to incorporate the technology into smartwatches, making it affordable and easily accessible worldwide. The device's precision also offers potential benefits beyond the diabetic community, including health optimization and chronic illness prevention.
Following its Breakthrough Device Designation by the FDA in 2021, HAGAR plans more studies in the US and Israel in late 2023, collaborating with Dr. Roy Beck from the Jaeb Center for Health Research.
HAGAR's last funding round was in August 2021, when it raised $11.7 million in a Series B round led Columbia Pacific.
