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Nemaura Medical Secures $20 Million Non-Dilutive Non-convertible Loan to Accelerate Growth

February 11, 2021

Nemaura Medical CEO, Dr. Faz Chowdhury said, “We appreciate the continued strong support from our lender, Chicago Venture Partners.”

Nemaura Medical Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The Company is currently commercializing sugarBEAT® and proBEAT.sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real-time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA.proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and is expected to be launched in the U.S. as a general wellness product.

The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.

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