Health tech startup Healthy.io, which offers at-home urinalysis and digital wound care, raised $50 million while also reportedly laying off a third of its staff.
The company said it plans to use the series D funding round, which was led by Schusterman Family Investments, to expand its smartphone-enabled kidney test across the U.S.
Meanwhile, Healthy.io laid off about 70 employees, Calcalist reported May 3. The cuts mostly affect staffers based in Israel or the United Kingdom.
"Our mission has always been clear: to improve the lives of patients by delivering clinical grade testing at the speed of life," CEO and founder Yonatan Adiri said in a May 3 news release. "During these turbulent times, we are grateful to our investors for believing in our company, trusting our capabilities, and getting us one step closer to that goal."