A medical technology company, Truvian Health (“Truvian”), has raised $74 million in a series D funding round to extend access to blood testing to everyone across the globe using its novel platform.
Since its founding in 2015 by Dena Marrinucci, Kim Kamdar, and Bala Manian, Ph. D., the company has received significant financial support from diverse investors throughout its development stages.
According to the company’s announcement, the latest stage was co-led by Great Point Ventures and Wittington Ventures, with a significant contribution from existing investors, including Medical Excellence Capital, DNS Capital, Tao Capital, 7wireVentures, and TYH Capital.
Shoppers Drug Mart, a leading Canada-based pharmacy, joined Truvian Health as a commercial partner, forming part of the recently concluded investment round.
Why this Development is Important
While access to healthcare is a basic human right, millions of people worldwide lack access to routine blood tests due to their limited availability and high costs.
In the US, 50 percent of adults who seek healthcare services skip routine blood testing due to the complex and friction-laden processes. This can often lead to delayed diagnosis and medical intervention.
Additionally, the long turn-around time required for the process can lead to missed diagnoses, ultimately resulting in avoidable extra medical care costs.
Truvian Health focuses on redefining the existing global health infrastructure using its health tech platform, creating a world with routine blood testing available virtually everywhere at an affordable cost.
The company’s automated benchtop platform technology allows for accurate, comprehensive, easy-to-understand, and cost-effective routine blood testing anywhere—from clinics to doctor’s offices and pharmacies. According to Truvian Health, Preliminary studies show the results are at the standard of those from central laboratories.
Designed for use anywhere, the Truvian platform combines immunoassays, hematology assays, and clinical chemistries to deliver precise results quickly.
Truvian Health will use part of the latest capital infusion to secure regulatory approvals from the Food and Drug Administration (FDA), allowing for commercialization of the testing platform across the United States.
