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After learning about burn victims and veterans, entrepreneur Ran Ma developed a sock with sensors to detect foot ulcers. Now, his company, Sirenhe has earned $9.5 million, with an $8 million check from the executive director Mölnlycke Health Care to advance the development and launch of its diabetes mellitus drug (DFU). It has now raised $43 million to date.
About 830 million people worldwide and diabetes, more than three who can have debilitating wounds in their life, which can cause serious problems, and even amputation.
Siren’s product, Siren Socks, detects the first signs of foot injury by detecting the temperature of the patient’s foot and identifying areas that indicate potential ulcers in real time. The company claims it can reduce the risk of DFUs by up to 68% and amputations by 83% through continuous data collection.
“I studied biomedical engineering at Johns Hopkins and Northwestern University,” Ma told TechCrunch. While there, he worked in a wound center to “make a biomask to reconstruct the face of fire victims and veterans,” he said.
Ma dropped out of school twice — once from Northwestern, then from Copenhagen Business School — but eventually he hand-stitched the first prototype of the Siren sock with sensors he bought at RadioShack and a leftover Arduino board from Maker Faire. “Then I paid a tailor in Chinatown to sew my second photo with multiple sensors and make the first continuous temperature monitoring socks,” he said.
In 2017, the beginning won the TechCrunch Hardware Battlefield competition at Disrupt. Since then, Siren has raised funding from Khosla Ventures, among others, pulling in $11.8 million in Series B. Now it has added DCM, Founders Fund and Manta Ray Ventures to its cap, and Mölnlycke is the first Strategic Investor.
The space is warming up nicely, so you can make a sound. Competitor Podimetrics has raised more than $98 million for its heat-sensing mat, while Orpyx, which makes a pressure sensor, recently. he was promoted $20 million in economic growth.
