Aktiia’s $42M Series B Funding Leads to Hilo Rebranding

Aktiia, a company known for its cuffless blood pressure monitoring technology, recently announced the completion of a $42 million Series B funding round. The investment, co-led by Earlybird Health and Wellington Partners, included participation from Kfund, naturalX Health Ventures, and existing investors such as Redalpine and Khosla Ventures. This funding brings the total investment in Aktiia, now rebranded as Hilo, to over $100 million. The rebranding reportedly reflects a shift in the company’s identity as it potentially looks to expand its reach in health monitoring technology.

Hilo has noted plans that may involve using the funding for research, product development, and potential market expansion. A focus on enterprise applications has been mentioned, but specific details remain to be seen. The company’s rebrand, described as a step toward more global relevance, suggests an intent to align its name with its evolving goals.

A Technology-driven approach

Founded in 2018, Hilo has developed technology leveraging advanced machine learning to provide continuous blood pressure readings without relying on traditional cuffs. While over 120,000 of its devices have reportedly been sold worldwide, key markets like the United States are still pending regulatory approval. The company has secured regulatory clearances in regions such as Canada, Australia, and Saudi Arabia and claims to have seen consistent revenue growth.

Hilo’s clinical trial data could be pivotal for its application to the FDA, but further developments are still awaited. The rebrand and funding could signal a shift in how the company positions itself in the health technology market. However, whether Hilo will meet its stated goals and address gaps in real-time health monitoring remains to be assessed.

Leadership and investor commentary

Raghav “Rags” Gupta, CEO of Hilo, stated, “This funding round is a testament to the confidence our investors have in Hilo’s groundbreaking technology and our mission to manage the world’s blood pressure via more frequent, convenient, and accurate measurements.” Christoph Massner, Principal at Earlybird Health, who is joining Hilo’s Board of Directors, emphasized, “Hilo stands at the intersection of medical-grade precision and consumer-centric accessibility.”

Johannes Fischer, Managing Partner at Wellington Partners, added, “We believe that real-time and continuous access to blood pressure information will change the way we think about the monitoring and management of one of the most common risk factors to human health.” Hilo appears to be preparing for its next growth trajectory phase, with challenges and opportunities likely shaping its path forward.

YouTube: Dr Jay Shah presenting at the ESH 2022 Mini-Symposium

Photo credit: All images shown are owned by Hilo and were provided as part of press releases.
Source: Hilo press release