Alio Raises $18M in First Closing of Series C Financing

Dec 9, 2022 1 min read
Alio Raises $18M in First Closing of Series C Financing

Originally published by FinSMEs on December 9, 2022

Alio, a Broomfield, CO-based medical technology company, raised $18M in Series C funding.

The round was led by Widjaja Family Investment Office with participation from Chase Field, and Thomas Krebs.

The company intends to use the funds to expand its remote patient monitoring technology while scaling operations to align with the needs of the chronic care market.

Led by CEO David Kuraguntla, Alio is a medical technology company helping people with chronic conditions through non-invasive, wireless remote patient monitoring. Currently, the company uses its SmartPatch technology to monitor individuals with end stage kidney disease (ESKD) undergoing dialysis. Its 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.

In April, Alio obtained 510(k) clearance for its remote patient monitoring platform to intermittently collect physiological data in home-use settings. The company completed an additional 510(k) submission to the FDA for clearance of non-invasive monitoring of hemoglobin, hematocrit, and potassium in chronic care patients with conditions such as ESKD and anticipates a response in the first half of 2023. Following clearance, Alio will commercially launch its platform and scale the business by leveraging partnerships formed with global leaders in kidney care.

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