New Zealand-based startup Alimetry has secured $18 million in Series A funding to accelerate the development of its wearable device that diagnoses functional gastric issues non-invasively. The device, which uses a flexible electrode array to capture electrical activity in the gut, has already received four FDA clearances and is being tested in over 30 hospitals in the US, UK, and New Zealand.

The startup's technology has the potential to revolutionize the diagnosis of gastric disorders, which affect an estimated 1 in 10 people worldwide. By providing clinicians with accurate and personalized biomarkers, Alimetry's device can help tailor treatment to individual patients, improving health outcomes and reducing healthcare costs.

Alimetry's CEO, Dr. Greg O'Grady, believes the device can also have applications in pediatrics and colon-related issues, and the company is committed to continuing to evolve the product and add new features.

The funding round, led by VC firm GD1, will be used to commercialize the device and expand its reach to more hospitals. With its innovative technology and growing traction, Alimetry is poised to make a significant impact in the medtech industry.