HME Square is developing a needle-free glucose monitor that uses a MEMS sensor, photoacoustics and deep learning to measure blood sugar noninvasively. A preliminary study the company shared with investors reports a mean absolute relative difference (MARD) of 7%, which HME Square says is more accurate than current CGM devices (reported MARD 8.7%–9.2%). The technology can potentially be extended to measure ketones, glycated hemoglobin (HbA1c) and cholesterol (phase 2) and bilirubin and creatinine (phase 3). The company is currently in R&D and plans to apply for GMP in Korea next year, run clinical trials for about a year, and target market entry in South Korea and the U.S. around 2025. HME Square intends to sell direct-to-consumer, may add subscription models after commercialization, and expects the device to cost roughly $1,000 for two years of use. Since its founding in 2020 the company has raised more than $3 million and is in the process of raising an additional $2 million for R&D and hiring.

Total raised

$3M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2023