MI:RNA raises $4m in Series A funding to advance veterinary diagnostics
NovaQuest led the financing round, which drew participation from eight investors across three continents.
MI:RNA develops veterinary diagnostic technology that uses microRNA biomarkers and blood samples to detect diseases early across the pet, agricultural, and equine sectors.
MI:RNA has secured $4m in a Series A funding round backed by eight investors spanning three continents. The capital will support international expansion and the commercialisation of its diagnostic platform.
The round was led by NovaQuest, with participation from new backers including Kyoritsu Seiyaku, VANE, Animal Health Angels, and Companion Fund I. Existing investors Gabriel, Equity Gap, and Scottish Enterprise also contributed to the financing.
The veterinary diagnostics firm uses microRNA biomarkers and artificial intelligence to identify conditions early in pets, livestock, and horses. The company plans to scale its operations globally through partnerships with major animal health multinationals.
From the founder
"Following on from our successful seed funding round from Gabriel Investments and Equity Gap, Series A is an important milestone in our global growth plans, as we seek to improve health outcomes for animals through earlier disease diagnosis using revolutionary biomarker technology and artificial intelligence. The geographical spread of this investment round reflects the global opportunity for MI:RNA to deploy our platform for better outcomes for pets."
Eve Hanks
CEO and founder at MI:RNA
Investor perspective
"MI:RNA represents an exciting opportunity in an innovative animal health business with cutting edge science and technology at its fore. As a group of vets and animal health professionals our investors look to invest in brilliant businesses that make animal health care better and MI:RNI absolutely aligns with our strategy. This technology has huge potential to detect and stage ideas at an early stage and to positively impact healthcare in both companion and production animals."
Wendy Furness
Co-founder, Animal Health Angels
Use of funds
- 01Expand into international markets
Investors
NovaQuest
Kyoritsu Seiyaku
VANE
Wendy Furness
Animal Health Angels
Companion Fund
Gabriel
Equity Gap
Scottish Enterprise