RSP Systems (Odense, Denmark), which focuses on using Raman spectroscopy for noninvasive glucose monitoring, has completed the first closing of a Series B funding round amounting to €6.5 million (approx. $7.6 million). The round remains open for a second closing because of strong interest.
Related: RSP Systems receives $2.6M grant for Raman spectroscopy-enabled device to monitor glucose
The proceeds of this round will be used to fund more extensive clinical trials, allowing the company to prepare for regulatory approval and market launch of a glucose monitoring device for diabetes management. To date, the company has raised a total of €19.5 million (approx. $22.9 million), including the Horizon 2020 grant awarded by the EU in 2016.
For more information, please visit www.rspsystems.com.