Scanadu Inc., a company that is aiming to bring hospital-grade diagnostic tests to consumers’ smartphones, has raised a $35 million Series B round to push further into clinical trials for is Scout device.
The Scout device is a small, disc-shaped gadget that has its own tiny operating system inside, as well as gyroscopes, electrodes, reflective light-emitting diodes, accelerometers and other sensors. The Scanadu Scout is meant to be pressed against the side of a user’s head, near the temple.
The company is in the midst of filling several thousand orders for its $199 device that came about in the company’s 2013 Indiegogo campaign, which brought in $1.6 million from more than 8,500 backers, Chief Executive Walter De Brouwer said.
At the same time, Scanadu is attempting to get its device approved as a medical-grade diagnostic in both China and the U.S., he said.
To help move the product forward in the U.S. and China, Scanadu raised Series B funding that was led by Fosun International Ltd. The round also include new investors Tencent Holdings Ltd., China Broadband Capital, IGlobe Partners and Sungent BioVenture, as well as returning backers Relay Ventures and AME Cloud Ventures.
The Mountain View, Calif., company raised a $10.5 million Series A round in 2013. Scanadu has also been funded by Zappos Inc. founder Tony Hsieh through his Vegas Tech Fund, Redmile Group, Broe Group and Mindful Investments.
The Scout so far has been approved by the Food and Drug Administration as an “investigational device,” meaning it can be used in the context of a study. The IndieGogo investors are signing consent forms to allow the FDA to study how the devices are being used, Mr. Brouwer said.
But Scanadu has much broader ambitions for the device, including combining it with test-strips and other technologies so that it can provide a detailed reading on blood and urine samples, as well as examine DNA.
The company is in the midst of human clinical trials with the Scout as a urinalysis device, and has a longer term regulatory path to get the Scout cleared to analyze blood and DNA, Mr. De Brouwer said.