Jupiter Diagnostics raises £1.6m from Angels in MedCity and partners to scale its blood testing reader
The funding will support production lab setup and initial European sales.
London scale-up developing a portable diagnostic reader for rapid, affordable blood testing outside of traditional laboratories.
Jupiter Diagnostics has raised £1.6m in a funding round supported by Angels in MedCity, alongside the LBA EIS Roundtable Syndicate Fund 2016 and the London Co-Investment Fund. The capital will be used to establish an assay production laboratory and support initial European sales in mid-2017.
The company's patented technology is designed to bypass traditional laboratory delays by delivering blood test results in 10 minutes at a reduced cost. The fresh capital will also enable the firm to broaden its menu of tests to enter new sectors such as gynaecology and cardiology.
From the founder
"Bringing these technologies together will allow us to provide rapid access to accurate blood testing outside hospital which could transform the delivery of healthcare."
Chris Ball
CEO at Jupiter Diagnostics
Investor perspective
"LCIF is glad to support Jupiter Diagnostics in its quest to develop rapid,point of care, cost effective blood testing solutions. The need for such solutions is well established and the unique combination of technologies at Jupiter are well placed to address this demand in the healthcare sector in the UK and worlwide."
Puneet Raj Bhatia
Fund Manager, London Co-Investment Fund
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Angels in MedCity
LBA EIS Roundtable Syndicate Fund 2016
Puneet Raj Bhatia
London Co-Investment Fund
Categories
About the company
Jupiter Diagnostics
Jupiter Diagnostics builds a portable blood testing reader that delivers rapid results.