In March 2016, Microtest completed its funding round on SyndicateRoom, raising £186,082 to make it cheaper, easier and faster to test for common allergies.
Microtest ‘s unique, easy-to-use solution has the power to transform the way we test for allergies. The patented allergy testing platform is capable of testing for multiply allergies at once with same-day results, reducing the overall cost of testing.
Focussing on B2B sales across the UK and US, Microtest targets health organisations and practitioners as its audience and has clocked £490k in revenues for 2015 alone – doubling its 2014 revenues.
As an Imperial College spin-out, Microtest has its base in London, with a wholly-owned clinical testing laboratory in New Jersey (USA) and an allergen development facility in Uppsala (Sweden). Its Managing Director for US operations is Raymond Joske - one of the brains behind the highly successful commercialisation of the EpiPen®.
Funds raised in this tranche will go towards manufacturing, expanding the sales team and improving the company’s software for laboratory users. The round was being led by Innvotec, which upped its investment by a further £75k after Microtest went live on SyndicateRoom.
Where are they now?
Please stay tuned for updates about Microtest.