US-based diagnostic testing company Daktari Diagnostics raised $15.5m in a series D round co-led by pharmaceutical conglomerate Merck’s Global Health Innovation Fund on Monday.
Real estate loans provider Eastern Capital co-led the round, which also included Partners Innovation Fund, an investment unit belonging to Brigham and Women’s Hospital – the teaching hospital affiliated with Harvard University – and venture firm Norwich Ventures.
Daktari’s diagnostic platform enables molecular tests to be conducted in pharmacies, general practitioners surgeries and remote health facilities. The platform successfully completed clinical validation studies in January 2015 and will be deployed worldwide this year.
Daktari has raised $51.3m to date, including $10m from a 2011 funding round led by Merck Global Health Innovation Fund, and which included Norwich Ventures, Partners Innovation Fund, Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels and Hub Angels Investment Group.
Bill Rodriguez, founder and chief executive of Daktari, said: “Our near-term goal is to create a menu of tests for major infectious diseases, all of which can run on the Daktari platform in 15 to 30 minutes.
“We appreciate the continued support from our investors and our global partners as we expand our menu and expand our global reach.”
– Image courtesy of Daktari Diagnostics