Signos, a startup that uses continuous glucose monitors (CGMs) to provide personalized diet and exercise recommendations, has raised $20 million in a funding round led by Cheyenne Ventures and GV.
The company is partnering with Dexcom, a leading maker of CGMs, to target people who want to lose weight without pills.
Signos uses an app that shows users how their glucose levels change in response to different foods and activities. The app also suggests when to eat and exercise for optimal weight loss results. Users can choose from different plans that include the cost of the CGMs, which are worn on the upper arm and send data wirelessly to the smartphone.
The company was founded in 2018 by Sharam Fouladgar-Mercer, who said he struggled with his weight for 30 years and wanted to find a better way to understand his metabolism. He said Signos helps users make the right decisions in the moment and also learn more about the science behind metabolic health.
Signos is also conducting a clinical study approved by the FDA to monitor its impact on metabolic health. The company said it will use the new funding to expand its research and team, which currently has 45 employees.
The startup is tapping into a growing market for weight loss solutions, as obesity costs the U.S. more than $170 billion a year. Some of the new drugs for obesity and diabetes, such as Ozempic and Wegovy, have seen explosive sales growth in recent years. However, Signos is offering an alternative that doesn’t involve pills.
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