- Nutromics recently announced that it raised $14 million. These are the details.
Nutromics recently announced that it raised $14 million.
Funding round: $14 million
Total funding: this recent acceleration round has raised over $20 million to date
Investors: Strategic investors included Dexcom Ventures, VU Venture Partners, and Artesian Investments
What the funding round will be used for: This funding is key to Nutromics’ continued expansion across Australia and the United States. This latest round of funding will support an expansion of clinical studies and expansion of R&D team and investment across both Australian and United States hubs.
Founded: Founded in 2017 by Peter Vranes (CEO) and Hitesh Mehta (COO)
What Nutromics does: Nutromics tackles some of healthcare’s most challenging conditions through the power of continuous diagnostic monitoring. And Nutromics plans to raise significantly more funding in 2023 following in-vivo clinical studies.
Nutromics is developing a wearable diagnostic platform that uses DNA technology to enable tracking for multiple targets in the human body using a single patch. And this is the first technology of its kind that is both a platform and proven to work on-body. The DNA sensor technology will provide clinicians and patients with continuous and real-time diagnostic information ranging from hard-to-dose drugs, like vancomycin, to biological markers for conditions like kidney disease.
KEY QUOTE:
“We are aiming to cause a paradigm shift in diagnostic healthcare by essentially developing a lab-on-a-patch. A lack of timely and continuous diagnostic insights can strongly impact outcomes when dealing with critical disease states. With this strategic industry and VC investment in us, we see more confidence in our technology and hope to accelerate our growth, as the need for our platform in the lab diagnostic space is urgent.”
— Nutromics’ co-founder and CEO Peter Vranes
