Undermyfork scores $400K seed for its diabetes tracking app and US launch

Undermyfork, a diabetes tracking app designed to help people with the disease improve “time-in-range” and better manage their condition, has raised $400,000 in seed funding.

Investment comes from AltaIR Capital and Runa Capital. Undermyfork co-founder Mike Ushakov’s previous company, Metabar (the maker of the browser add-on Sovetnik), was also backed by Runa, before being acquired by Yandex several years ago.

The Undermyfork app combines meal photos with glucose data coming from a continuous glucose monitor (CGM) device. The aim is to let users correlate meals with changes in blood glucose levels. Specifically, it focuses on “time-in-range” — the percentage of time that a person spends with their blood glucose levels in a target range, considered the most important metric in modern diabetes management.

“With our app, we want to help people with diabetes correct their lifestyle and eating habits, and improve their time-in-range,” Ushakov tells me. “Undermyfork is a very simple tool now: it combines meal photos and insulin data with glucose data, and allows the users to clearly see which meals are driving them out of the safe blood glucose range.

“We help people with diabetes not just to see their blood glucose data, but to interpret the data and make useful conclusions that could improve their life. You can say it’s like ‘Google analytics for blood sugar.’ ”

More broadly, Undermyfork is betting that continuous glucose monitoring devices will replace traditional finger-pricking blood glucose meters in the coming years. The strategy is to establish itself as the default companion app for CGMs, but to do so it will need to gain access to CGM-generated data.

“Undermyfork relies on CGM data, so we need to have the partners to provide us with this data,” explains Ushakov. “This month, simultaneously with closing our round, we partnered with Dexcom, which is the leading CGM manufacturer in the U.S. We now have access to Dexcom’s retrospective API, letting users stream data directly from their Dexcom cloud to the Undermyfork app.”

This also sets up Undermyfork for a U.S. launch. Noteworthy, the mostly Europe-based team is entirely remote. Ushakov is in Amsterdam, co-founder Eugene Molodkin is in St.Petersburg and other team members are in Germany, Netherlands, Russia, Slovenia and Israel.

from Startups – TechCrunch https://ift.tt/2EMldvh
via IFTTT