LightDeck Diagnostics, a US-based diagnostic test developer that counts pet healthcare product provider Heska among its investors, disclosed $11m in series B financing yesterday.
The cash came from venture capital fund Entrada Ventures and VC firms Incubic Management and Boulder Ventures.
Formerly known as MBio Diagnostics, LightDeck has developed a diagnostics technology platform that utilises an advanced laser waveguide and which is designed to provide laboratory-quality results anywhere. It is currently working on an in vitro test for covid-19.
The company had raised at least $18.8m in equity funding and $1.7m in debt financing as of August 2018, when it received $6m from Heska and undisclosed existing investors.
Chris Myatt, LightDeck’s founder and chief executive, said: “Waveguide technology has long been recognised as a valuable medium for diagnostics, but previously required an expensive, resource-intensive manufacturing process; it was never possible to deploy it at scale.
“That is where LightDeck comes in. Covid-19 has illustrated the major need for broadly accessible, on-the-spot testing. With this latest funding, we look forward to driving that access and taking the ‘point-of-care’ anywhere.”
