Veri Adds ~€1.2M for Metabolic Health Platform

Veri is counting on its community.

What’s happening: The Finnish CGM platform crowdfunded ~€1.2M, adding to €11.5M in total funding.

Taking a root-cause approach to metabolic health via glucose response and food quality, the startup is seeking to grow its ~35K memberbase.

In demand. Veri’s app pairs with Abbott’s FreeStyle Libre monitor, measuring glucose levels to deliver meal scores and lifestyle recommendations – while its recent integration with Oura adds sleep analysis to the algorithm.

But, with the CGM market expected to reach~$10B by 2027, Veri will need to navigate a new era of metabolic health management.

Blood Feud

To date, manufacturers Dexcom and Abbott have established a hardware duopoly, providing CGMs to other platforms.

But with Dexcom and Abbott launching consumer platforms Stelo and Lingo, both now FDA-approved for OTC sales in the US, its commercial partners are recalibrating.

US-based Levels halted UK expansion last year before crowdfunding $2.5M, while the UK’s ZOE cut staff and Supersapiens ceased memberships.

Another approach, Ultrahuman recently raised $35M for a health-tracking ecosystem that includes Abbott-supported continuous glucose monitoring.

Yet, advances in CGM hardware could upend the market:

• Needle-free CGM Biolinq raised $58M, eyeing an FDA green light.
• Spectroscopy-based Spiden landed $15M, with more fundraising coming in H2 2024.
• CGM biosensor platform Allez Health, led by former Dexcom execs, secured $60M to scale a more affordable device.

Elsewhere, Samsung is rumoured to be nearing glucose-tracking for its watch and ring, and despite delays to its own project, Apple Watch integrated with Dexcom.

Takeaway: With CGM startups and wearable incumbents racing for noninvasive monitoring, the category may be at a crossroads. For Veri and other software-only providers, that could mean finding the right partners to best serve loyal subscribers.