US-based Siren has raised $9.5 million in a funding round led by Mölnlycke Health Care, which invested $8 million. The round also saw participation from new and existing investors. With this round, the total funding raised by the company accounts for $43 million.
What’s next for Siren?
The investment will help the company advance the development and adoption of its innovative diabetic foot ulcer (DFU) prevention solutions. Also, Siren is poised to expand its reach and further integrate its technology into healthcare systems. The partnership combines Mölnlycke’s market knowledge and established presence in wound care with Siren’s groundbreaking technology, setting the stage for a future where DFUs can be prevented before they even occur.
What role does it play?
As per WHO, over 830 million people globally live with diabetes, many of whom are at risk of developing DFUs, leading to severe complications, including amputations.
Siren’s flagship product, Siren Socks, uses patented technology to detect early signs of potential foot injuries. As per a study, it’s product reduces the risk of DFUs by up to 68% and amputations by 83%.
Temperature-sensing socks
Founded by Ran Ma, Henk-Jan Scholten, and Jie Fu in 2015 in California, Siren’s temperature-sensing socks provide real-time monitoring of patients’ feet, detecting hotspots that indicate potential ulcers. Alerts are automatically sent to remote wound care teams, enabling timely interventions and ensuring early triage of high-risk cases. This proactive approach reduces unnecessary procedures, improves patient quality of life, and brings down costs for both patients and healthcare systems.
Through its unique blend of technology, clinical evidence, and patient-centered design, Siren is dedicated to enhancing quality of life and reducing healthcare costs for patients worldwide.
How does it work?
By monitoring the data continuously the Socks are able to minimise false positives and reduce physician workload. The nurses ask the patient to reduce activity, check their feet, report symptoms, send photos, and continue wearing the socks. If the problem persists, the nurse escalates it to the patient’s managing physician, who then decides the next steps and whether the patient needs to be seen in person at the clinic for further diagnosis and treatment as part of standard diabetic foot care.
“This partnership represents a major milestone in our journey to redefine DFU prevention and management,” said Ran Ma, co-founder and CEO ofSiren. “Mölnlycke’s investment underscores the importance of preventive technologies in tackling chronic conditions like DFUs. Together, we aim to empower patients with tools that help them stay healthy and independent while easing the load on healthcare providers. Prevention is the key to avoiding painful, costly, and life-altering complications.”
Zlatko Rihter, CEO of Mölnlycke, commented “Our strategic investment in Siren reflects our commitment to integrating into digital ecosystems and pioneering innovative digital solutions that revolutionise healthcare delivery. Helping to prevent wounds from occurring is also in line with Mölnlycke’s Wound Care mission to ‘help free patients from the burden of wounds and our ambition to further support healthcare in the post-acute segment.”
The post Smart socks with temperature control: Siren pulls in $9.5M to control diabetic foot ulcers appeared first on Tech Funding News.