Sight Diagnostics Raises $71 Million Amidst Covid-19 Demand for Blood Count Devices
CTech – Israeli blood testing startup S.D. Sight Diagnostics has raised $71 million from international venture capital funds and US corporations, Clal Biotechnology Industries revealed in a report sent to the Tel Aviv Stock Exchange last week. Sight Diagnostics has yet to announce the details of the new funding round, but Clal Biotechnology Industries stated in its report that, following the news, its Anatomy Technology Fund, of which it holds a 50% stake, now owns 4% of Sight Diagnostics.
Sight raised a $27.8 million series C round in December 2018, with the round being led by Longliv Ventures, a member of multinational health and beauty conglomerate the CK Hutchison Group. Existing investors OurCrowd, Go Capital, and New Alliance Capital also participated.
Sight isn’t involved in Covid-19 detection, but its complete blood count (CBC) test is being used across the world to help treat coronavirus patients who require constant testing to determine their condition.
“After proving our technology in malaria detection, it became overwhelmingly clear to us that the CBC, the world’s most common blood test, is where we’d make the most impact,” said Sarah Levy, Sight’s CTO, following the series C announcement. “The ability to create rich digital images of blood samples and analyze them in minutes has enormous potential to improve diagnostics and patient care.”