Alio, Inc. Broomfield, Colo. – based medical technology company reinventing the management of chronic disease, announced that it has raised $18 million in the initial closed of a Series C financing, bringing the total amount the company has raised to over $50 million.
The financing was led by the Widjaja Family Investment Office with participation from the company’s existing investors, including Chase Field, LLC, and Thomas Krebs, former Treasurer of Penumbra, Inc.
The financing will be used to expand the company’s industry-disrupting end-to-end remote patient monitoring technology while scaling operations to align with the rapidly growing needs of the chronic care market.
“We made tremendous progress over this past year – we achieved a major regulatory milestone with our initial FDA clearance for our platform, completed our FDA submission to include potassium monitoring, and formed a number of strategic partnerships, laying the groundwork for commercialization. With this strong foundation established, we have reached a critical point in our journey,” said David Kuraguntla, Alio’s co-founder and CEO. “As we enter our next phase of growth, we are pleased to have attracted notable new investors, along with the essential and continued support of our Series A and B investors. We are fortunate to have partners and investors who believe in our vision for a better, more cost-effective, and results-driven healthcare experience.”
Company: GraftWorx, Inc.
Raised: $18.0M
Round: Series C
Funding Month: December 2022
Lead Investors: Widjaja Family Investment
Additional Investors: Chase Field, LLC, and Thomas Krebs
Company Website: https://alio.ai./
Software Category: Remote Monitoring for Complications in dialysis
About the Company: Alio, Inc. is a medical technology company that brings peace of mind to people with chronic conditions through non-invasive, wireless remote patient monitoring. Currently, Alio uses its SmartPatch™ technology to monitor individuals with end-stage kidney disease (ESKD) undergoing dialysis. Alio's platform uses artificial intelligence (AI) to analyze data and create actionable insights. These insights enable targeted interventions with the potential for improved health outcomes and reduced hospitalizations. Alio has built a team of seasoned leaders with diverse backgrounds spanning industries and segments such as medical devices, wearable technology, government relations, commercialization, and reimbursement.
Source: https://www.biospace.com/article/releases/alio-raises-18m-in-first-close-of-series-c-financingclosing-out-a-year-marked-by-milestone-achievements-including-fda-clearance-alio-announces-its-latest-round-of-funding/