The funding round was led by private equity firm Traditum and will support team expansion and sales growth.
"After Satish’s tragic death at the prime of his life and from a condition that could have been prevented, we resolved to find a way to save lives by helping people improve their overall health before any symptoms arise,"
— Michael Stein, Physiologist and serial entrepreneur
The grant funding will support the development and launch of a molecular tuberculosis testing system for developing countries.
"The advancement of our TB molecular test signifies an important step forward in LumiraDx’s mission to increase access to accurate and affordable testing worldwide as well as an important step forward in our molecular testing technology. The support from the Gates Foundation is critical in our development of the TB test and ensuring it reaches communities where access to testing is most challenged. The availability of these immediate results can be game changing."
The investment round was led by Midven through the Midlands Engine Investment Fund to scale virtual ward services for the NHS.
"The investment by Midven and QVentures is critical to enabling our pioneering model of virtual hospital care, which will create urgently needed capacity for the UK health system."
The funding round was led by Archangels to support market entry for the company screening technology.
"Hearing loss usually advances slowly and unnoticeably and has severe consequences if left unmanaged. Our mission is to make reliable hearing testing accessible outside of specialist clinics to drive the early diagnosis of hearing loss and to ensure positive patient outcomes."