Sibel Health Announces $30 Million Series C Funding Round and FDA Clearance
CHICAGO, March 20, 2025 – Sibel Health, an award-winning medical technology company, has finalized a $30 million Series C financing round led by the Steele Foundation for Hope, with significant participation from Dräger. The company also announced its 7th FDA 510(k) clearance, positioning it for significant commercial expansion.
Dr. Steve Xu, MD, co-founder and CEO of Sibel Health, expressed his enthusiasm, stating, “Given the very challenging financing environment, we are ecstatic to see our existing investors fund our entire round given their confidence in our product roadmap and growth trajectory.”
The Steele Foundation for Hope previously led Sibel’s Series B round with an additional $20 million investment. Dräger had earlier spearheaded the Series A round, providing an extra $10 million in funding.
Expanding Commercial Reach with the ANNE® One Platform
The new FDA clearance supports Sibel Health’s expansion plans for the ANNE® One monitoring platform, which utilizes advanced clinical-grade wearable sensors to provide wireless monitoring of vital signs for patients aged 12 and older. The latest clearance includes the ability to send alarms and alerts via a powerful central station.
“We are especially proud of the fact that our sensors are FDA-cleared under the IEEE SDC 11073 standard, which supports open and secure communication between medical devices replacing traditional proprietary networks. Interoperability is the future and our hospital partners are increasingly demanding it,” noted Jong Yoon Lee, CTO and co-founder of Sibel Health.
The ANNE® One platform is one of the first medical devices to receive FDA-clearance following the IEEE SDC 11073 standard. Dr. Xu added, “Without interoperability of medical devices, particularly vital signs monitors like ours, we cannot capture the broader care context and realize the full potential of AI to detect patient deterioration earlier.”
Toni Schrofner, Chief Officer Medical Division at Dräger and a member of Sibel’s board, said, “We are pleased to further strengthen the cooperation between Dräger and Sibel through this investment. The possibility to integrate wireless, wearable sensors into the digital acute care ecosystem via the new connectivity standard ISO/IEEE 11073 SDC is an important milestone towards the future of patient monitoring along the entire patient care journey.”
Additional Milestones
In early 2024, Sibel Health received a $17.5 million grant from the Gates Foundation. Later that year, Sibel Health, with Dräger Denmark, was chosen by the Capital Region of Denmark to install continuous wireless monitoring systems in multiple hospitals around Copenhagen.
Northwestern Medicine Adopts Sibel Systems
In a further development, Sibel Health, a Northwestern University spinout, announced that Northwestern Medicine has purchased ANNE® One systems to evaluate enhancements to nursing workflow and patient sleep quality using the wireless sensors.
About Sibel Health
Sibel Health, based in Chicago with an international office in Seoul, South Korea, is a leading medical technology company dedicated to delivering Better Health Data for All®. The company provides advanced monitoring solutions for both home and hospital settings and digital health technologies for research and pharmaceutical markets.
About Dräger
Dräger is a global leader in medical and safety technology. Founded in 1889, the company has more than 16,000 employees, operating in over 190 countries, with revenues of approximately €3.4 billion in 2024.
About Steele Foundation for Hope
Established in 2021, the Steele Foundation for Hope focuses on finding and funding solutions to some of humanity’s most significant challenges, leveraging technology and innovation to improve the quality of life.
