Virginia’s CIT GAP Fund Invests In Creators of Diabetes Monitoring Smartphone App
Virginia’s Center For Innovative Technology (CIT), the nonprofit corporation which receives state funding to drive innovation and entrepreneurship in Virginia, has invested via its CIT GAP Fund in Charlottesville, Va.-based TypeZero Technologies.
TypeZero is a health-tech startup that specializes in developing tech to manage and treat Type 1 and Type 2 diabetes. While financial details of the investment were not announced, an SEC filing dated June 23 for TypeZero shows that the company raised a $415,000 debt and securities round. It is unclear at this time if the SEC filing corresponds with CIT’s investment announcement.
CIT GAP Funds led TypeZero’s seed round, which also included several other unnamed investors.
TypeZero has created a software-based, big data-enabled “inControl Diabetes Intelligence Platform.” This platform is designed to integrate data from medical devices, services and other medical applications to help treat diabetes.