Nasdaq-Listed Diabetes Monitoring Company Dario Raises $10.3 Million in Private Placement

Nasdaq-listed digital health company DarioHealth Corp. has raised $10,345,000 in a private placement offering, the company announced Friday. Founded in 2011 and headquartered in the coastal Israeli town of Caesarea with additional offices in New York, Dario develops a diabetes monitoring device that lets users test and track their blood-glucose levels in real time using a smartphone. The palm-sized device offers safety features including emergency hypo alerts via text messages, which also include the location of the user. The device has received regulatory approval in the U.S., Europe, Australia, and Canada.

In 2017, Dario reported revenues of $5.1 million, compared to $2.8 million in 2016, and a net loss of $15.7 million for 2017 compared to $10.8 million in 2016. In May, Calcalist reported that Dario is considering a dual registration on Tel Aviv Stock Exchange, looking to raise $5.5 million to $7 million (NIS 20-25 million) from private and institutional investors.