TestCard secures £4.5m from West Hill Capital to fund product development and expansion
West Hill Capital backed the seed follow on round to support new product development and international expansion.
TestCard builds medical technology that turns a mobile phone camera into a clinical grade diagnostic tool for at home health testing. The Scarborough based enterprise seeks to improve patient outcomes and alleviate pressure on health services.
Medical technology innovator TestCard has secured £4.5m in a seed follow on funding round from West Hill Capital. The capital will enable the firm to drive new product development, advance regulatory applications, pursue international expansion, and prepare for its upcoming series A round in 2021.
Founded in 2019, TestCard allows users to screen for conditions such as urinary tract infections using a smartphone camera and an at home kit. The latest injection of funds follows a period of rapid growth for the Scarborough and Edinburgh based team, which anticipates expanding its workforce significantly over the coming year as demand for remote healthcare accelerates.
From the founder
"We are delighted to secure this level of funding while still in our early stages as a business. It’s clear that diagnostic testing is an attractive opportunity in the current climate. This level of investor confidence speaks volumes about our ambitious growth plans in delivering disruptive, at-home healthcare solutions to the market across multiple territories."
Chris Craig-Wood
Chief Commercial Officer at TestCard
Investor perspective
"West Hill was most impressed with TestCard’s management team and technology and believed that the company would make a significant addition to our portfolio. TestCard is now perfectly positioned to benefit from a new world where home testing for a multitude of medical conditions or illnesses has become necessary in order to alleviate the strain on our healthcare services."
Robert Caie
managing partner, West Hill Capital
Use of funds
- 01Continue product development
- 02Expand into international markets