“Opuz is developing a world-first wearable ring that monitors blood glucose levels. Unlike current blood sugar measurement options, Opuz is non-invasive and pain-free.
We recently concluded a successful clinical study demonstrating accuracy versus a market-leading product and intend to publish the results in the Journal of Diabetes Science and Technology.
Opuz is raising $2M to complete product development and is aiming to launch its first sales in mid-2022.”
Andrew Just, CEO, Opuz
Leveraging design, innovation, and the latest technology to disrupt traditional monitoring models, Opuz is developing a truly non-invasive blood glucose monitor that is easy to use and affordable. The company’s vision is to enable easy self-monitoring of vital health metrics, and its first metric of focus is blood glucose.
Opuz’s approach is to couple novel sensor technology (bioimpedance) with cloud-based AI to comfortably and continuously monitor blood sugar levels.
The Opuz ring requires no action from the user and negates the need for needles, sticky skin patches, and finger pricks. The company is poised to disrupt a global $13B market and launch the product in 2022.
Growth of sector
- The value of the global market for self-monitoring of blood glucose is $13B. The market keeps growing as diabetes continues to spread around the world. It is a massive market with substantial adjacent markets that Opuz can tap into through its technology approach.
- Opuz will be launching as a wellness product in 2022, accelerating the path to market and aiming to tap into the unmet need of easy and pain-free monitoring quickly. As a general consumer wellness product, it provides a straightforward and streamlined path to market.
- Opuz is positioned to be easier, faster, and more affordable than current products.
- The product has less than half the annual cost of the market-leading CGM. When compared with finger-prick testing, it is the more affordable and pain-free option.
- The company’s business model of wearable + SaaS provides recurring revenue on an app platform that can expand services over time, with the capability to access adjacent markets such as services and therapies.
Experienced management and advisory board
- The company has a mix of experience focused on go-to-market needs, supported by expert clinician knowledge. Omnichannel B2C experience, a leading social media influencer in this space, global commercial experience in related sales, and clinician specialists in endocrinology all contribute to the company’s advisory pool of knowledge.
Opuz is raising $2M on a pre-money enterprise value of $20M to complete product development and initiate the commercial launch of first sales.