Bigfoot Biomedical closes Series B financing round with $55M

A diabetes startup that uses artificial intelligence, Bigfoot Biomedical, has just announced that it scored a total of $55 million in Series B equity financing with new investments from Abbott and other existing funders. This funding is the culmination of earlier round funding that the company has been raising since late last year, including $37 million that it raised in December and an additional $18 million, which it announced this morning. The latest announcement now brings the company's total equity raised to $90 million. "We are excited to welcome Abbott to our list of investors," Jeffrey Brewer, president and CEO of Bigfoot Biomedical, said in a statement. "Abbott's inclusion in our financing speaks to our two companies' alignment of vision for changing the paradigm of care for people with insulin-requiring diabetes."