Truvian Health, maker of a benchtop blood testing system, announced it secured $74 million in capital and is partnering with Canada’s largest pharmacy, Shoppers Drug Mart.
Great Point Ventures and Wittington Ventures co-led the round, with participation from existing investors Medical Excellence Capital, Tao Capital, DNS Capital, 7wireVentures, and TYH Capital.
WHAT IT DOES
The San Diego-based company offers a fully automated on-site diagnostics platform for providers to perform blood testing with immediate results.
The benchtop system combines immunoassay, hematology and clinical chemistry testing and allows for routine blood testing, including complete blood count with differential, lipid panel, hemoglobin A1c, comprehensive metabolic panel and TSH.
The company aims to use the system in clinics, providers’ offices and pharmacies.
Truvian will use the funds to seek FDA clearance for its platform.
“These new investments and strategic partnerships further validate our goal to bring convenient, comprehensive testing to primary care, enabling patients and their doctors to make timely decisions affecting their health,” Jay Srinivasan, CEO of Truvian, said in a statement. “We are on the cusp of delivering what the world needs to counter today’s non-communicable disease burden and unsustainable healthcare costs.”
MARKET SNAPSHOT
Several digital health companies offer various ways patients can more easily undergo testing outside the traditional laboratory setting.
Digital diagnostics company Everlywell offers at-home tests for general wellness, including cholesterol and lipids test, HbA1c test and a colon cancer screening test. It also offers testing for nutritional health, sexual health, heart health and various women’s health and men’s health testing kits.
Other companies include CVS Health, which offers at-home sample collection kits; at-home microbiome testing company Ombre, formerly Thryve; and at-home diagnostics company LetsGetChecked.