SBI Investment Leads Apollon Series A for Needle-Free CGM
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Apollon, which develops needle-free continuous glucose monitoring systems, has raised KRW 5 billion, or roughly $3.7 million, in a Series A round. The company announced the financing on September 23.
SBI Investment led the round. Naver joined as a strategic participant ahead of launching a dedicated digital healthcare division the following month, and Daewoong, Apollon’s domestic distribution partner, also took part.
With this round, Apollon’s cumulative capital now tops KRW 10 billion. That total blends private equity investment with government R&D grants.
Apollon is based in Cambridge, Massachusetts. The medical device startup is working on a non-invasive glucose monitor that reads blood sugar straight from the skin using Raman spectroscopy.
Its approach differs from scanning the full spectrum. Apollon’s proprietary method pulls out signals from wavelength bands specific to glucose. The company has built a sizable patent portfolio around that technique, filing 54 patents so far, with 21 already registered and 17 of those in the United States.
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