ColdBlock Technologies raises $1.5m Series A round to fund product development and international growth
The financing round was backed by the Province of Ontario through OCE, istarthub, Angel Investors Ontario, and the founders.
≈ £1.2M at $1 = £0.8173 on 20 May 2020
ColdBlock Technologies manufactures sample digestion equipment that improves efficiency and safety for laboratories across multiple industries.
Canadian laboratory technology firm ColdBlock Technologies has secured $1.5m in a Series A financing round. The investment was backed by the Province of Ontario through OCE, istarthub, Angel Investors Ontario, and the company's founders.
The fresh capital will be directed towards accelerating the development of the company's automated Generation-3 system and scaling its international distribution footprint.
From the founder
"Our fundraising success will accelerate the development of our Generation-3 products to satisfy the automation needs of laboratories."
Nick Kuryluk
CEO at ColdBlock Technologies
Investor perspective
"OCE is proud to recognize this significant milestone for ColdBlock Technologies as they once again showcase that Ontario innovators are developing the new technologies locally that can transform industries globally,"
Claudia Krywiak
President and CEO of OCE, Province of Ontario
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
ColdBlock Technologies
ColdBlock Technologies develops advanced sample digestion technology for laboratory testing.