Luna Health Inc. has closed $23.6 million in Series A financing led by Vensana Capital. The company will use the money to accelerate development of Luna—the world’s smallest insulin patch pump—designed to work with the company’s fully closed-loop insulin dosing algorithm for diabetics who currently use insulin pens.

The funding round was led by Vensana Capital, with participation from the Swiss Diabetes Venture Fund, Ascensia Diabetes Care, Winklevoss Capital, and other prominent investors with expertise in diabetes technology and value creation.

“We are incredibly excited and fortunate to partner with Vensana Capital to accelerate bringing to market our products that solve the single largest problem in all of diabetes—nighttime glucose control for pen users,” Luna Diabetes Co-Founder/Chief Financial Officer Jon Brilliant said. “Vensana’s track record and leadership in the medical device ecosystem further bolsters the team of employees and advisors we have assembled to tackle this problem.”

Luna’s low-profile, iCGM-compatible, low-cost patch pump delivers automated doses of rapid-acting insulin during sleep, when more than 80% of the glucose improvement from traditional pump-based automated insulin delivery happens, without requiring diabetes sufferers to make the leap to full-time pump therapy. By focusing on where automation has the greatest impact on glucose control, Luna dramatically reduces complexity, lowers costs, and reduces barriers to adoption, thereby making automated insulin delivery accessible to millions of people worldwide who are either unwilling or unable to wear a traditional pump 24/7.

“Luna is solving a challenge the diabetes field has struggled with for decades—bringing the benefits of automation to injection users,” Vensana Capital Co-Founder/Managing Partner Justin Klein, M.D., stated. “Luna’s platform has the potential to fundamentally expand the reach of automated insulin delivery and drive measurable improvements in outcomes for people with both Type 1 and Type 2 diabetes.”

The company will use the Series A funding to advance regulatory submissions, conduct clinical studies, build manufacturing capacity, and expand clinical and market access programs.

Luna Health Inc.’s mission is to empower insulin pen users to manage their diabetes effortlessly while they sleep. Its flagship product, Luna, combines the world’s smallest insulin patch pump with a fully closed-loop algorithm to automate insulin delivery during sleep and support users across the day, without requiring a switch to a full-time insulin pump. The firm is headquartered in San Diego, Calif.

Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Founded in 2019, Vensana has approximately $1 billion in capital under management and is actively investing in development and commercial-stage companies across the medtech sector, including medical devices, data science-oriented solutions, life science tools and diagnostics, and tech-enabled services. Vensana’s investment team has a history of successfully partnering with entrepreneurs behind various companies, including Artelon, Cameron Health, CardiAQ, Cartiva, CV Ingenuity, CVRx, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Relievant Medsystems, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, Vertiflex, and Vesper Medical.