The funds will be used by the company to speed up the global deployment of rapid genetic testing solutions, including the CovidNudge RT-PCR Covid-19 test, which is currently in use in healthcare settings across the world
DnaNudge offers CovidNudge testing. (Credit: Shameer Pk/Pixabay)
Consumer genetics testing and medical diagnostics provider DnaNudge has secured $60m in Series A investment round for its rapid genetic testing solutions.
Led by an investment company Ventura Capital, the investment round saw participation from an independent wealth manager Bank Julius Baer.
DnaNudge will use the proceeds from the funding round to boost the global deployment of rapid genetic testing solutions, including the CovidNudge RT-PCR Covid-19 test.
The company is also offering CovidNudge testing, which is claimed to be the world’s first lab-free Covid-19 test, as a private consumer service. It is currently in use in healthcare settings across the world.
DnaNudge has signed multiple wholesale supply agreements to provide its CE-marked Covid-19 rapid, lab-free test to major international healthcare companies, including major European medical groups.
The company’s portable and clinical-grade point-of-care testing platform is said to deliver precise results within one hour.
DnaNudge co-founder and CEO Dr Chris Toumazou said: “The game-changing nature of our innovation has created an extraordinary commercial opportunity within next-generation medical diagnostics, and the global investor community is very excited by the transformative potential of a rapid, gold-standard RT-PCR testing platform that can screen for multiple viruses simultaneously.
“We are delighted to have completed this successful fund-raise which will allow us to dramatically speed our plans for worldwide availability, particularly in the US, Japan, Europe, and other key territories where interest is extremely high.”
DnaNudge also stated that it provides the world’s first service to use consumers’ own DNA plus lifestyle factors to nudge people towards healthier and more personalised choices while shopping.
The company’s nutrition service enables to analyse and map sers’ genetic profiles to crucial nutrition-related health traits such as obesity, diabetes, hypertension and cholesterol, thereby helping them to guide by their DNA towards healthier eating.
The firm has also announced plans to expand its consumer genetics services into personalised skincare shopping.