Onalabs Raises Over €9.3 Million to Scale Its Continuous Health Monitoring Solutions

Onalabs, a deep-tech company specialising in continuous, non-invasive health monitoring solutions, has closed a funding round of more than €9.3 million.

The round includes the participation of the Spanish Society for Technological Transformation (SETT), an entity attached to Spain’s Ministry for Digital Transformation and the Civil Service. SETT is investing €4.6 million in the company through the Next Tech facility, within the framework of Spain’s Recovery, Transformation and Resilience Plan and the European Union’s NextGenerationEU funds.

The round also includes 1921 Ventures, an Austrian fund specialising in diabetes and led by Fredrik Debong, founder of mySugr; nPrime, a Singapore-based investment fund founded by Roger Parellada with a strong network across Europe and Asia; strategic business leaders; and existing shareholders such as Reig Patrimonia and WA4STEAM, which have renewed their support for Onalabs.

The capital raised will be used to accelerate the industrialisation of ONASPORT, which is already commercially available, and expand its market reach, as well as to advance the clinical validation and regulatory approval of ONAVITAL.

The investment will also support the development of the company’s diabetes-related product line, increase Onalabs’ industrial capacity and promote the local manufacturing of its devices. At the same time, the company will expand its team, strengthen the in-house development of its sensors and continue pursuing its international expansion.

“This funding round represents much more than an injection of capital. It recognises years of research, development and validation, as well as the confidence of a group of investors who share our vision for the future of healthcare. For a deep-tech company such as Onalabs, developing disruptive technology requires time, talent and sustained commitment. This support will help us accelerate the transition from innovation to market and demonstrate that technologies with the potential to transform the way we understand health can be created within our ecosystem,” said Elisabet del Valle, co-founder and CEO of Onalabs.

Founded in Barcelona by Elisabet del Valle and Xavier Muñoz, Onalabs currently has a team of 30 professionals and a portfolio of six patents protecting its proprietary technology.

Within the healthcare sector, the company is managing pilot programmes with more than ten hospitals to validate its solutions in real-world clinical settings. In the sports vertical, Onalabs has strengthened its collaboration with FC Barcelona and is progressing with joint initiatives involving leading companies in the sector, including Garmin, with the aim of facilitating interoperability and exploring new commercial opportunities.

Onalabs’ technology continuously and non-invasively obtains physiological information through sweat, with applications across healthcare and sports.

ONASPORT, which is already commercially available, monitors biomarkers associated with sports performance, including lactate, dehydration, electrolyte loss and sodium levels. ONAVITAL, designed for healthcare applications, continuously measures parameters such as blood pressure, heart rate, oxygen saturation and body temperature, and continues to progress through its clinical validation and regulatory approval process.

The new round follows several financing operations completed by Onalabs throughout the different stages of its development. These include a €1.5 million seed round in 2022; a bridge round in 2023, which saw FC Barcelona join the company as a strategic shareholder; and the current funding round of more than €9.3 million.

In parallel, the company has secured more than €4 million in competitive public funding through Catalan, Spanish and European programmes.