Medical device manufacturer Medtronic has announced new investment to develop a mobile app which helps with the management of diabetes.
Samsung and the Social and Capital Partnership have also invested in California-based Glooko in a round of funding worth $16.5 million (£11 million).
Glooko has developed a cable which takes data from glucose monitoring equipment and sends it to a smart phone app. This enables patients diagnosed with diabetes to keep track of their condition. The information can also be sent wirelessly via Bluetooth technology.
Glooko is of particular interest to Medtronic as there is potential for the app to be linked to insulin pumps made by the manufacturer to help monitor diabetic patients’ glucose levels.
Medtronic’s diabetes business, which includes the manufacture of glucose monitors, generated revenue of $1.7 billion during 2014.