CAAP Company: MEDELLA HEALTH Raises $1.4 MILLION

Harry Gandhi is the co-founder of Medella Health, a Waterloo-based company developing a smart contact lens that continuously monitors glucose levels (with the information transmitted to a mobile device), is hoping that its contact lens will change the way we approach the disease. The company has raised $1.4 million in funding from 1517 Fund, Fifty Years Fund, Garage Capital, and BDC Capital.

“Tons of people have worked on diabetes management for a couple of years — and a couple of decades, as a matter of fact. It always comes down to the balance between invasive monitoring and continuous monitoring, and there have been many things tried,” said Gandhi, who wasrecognized as a Thiel Fellow in 2015. “Even when we started, we looked at using saliva, urine, sweat as sources of glucose. It’s a balance between getting valuable data, and things that show correlation, and how data performs as opposed to something that’s just easy to use. Ideally, we want something like air where it’s there and it’s doing its job.”

For the full story, click here