US-based diagnostic testing company Daktari Diagnostics raised $10m in funding last Friday in a round led by pharmaceutical conglomerate Merck’s Global Health Innnovation Fund.
Also participating in the round were venture capital firm Norwich Ventures and the Partners Innovation Fund, an investment unit belonging to Brigham and Women’s Hospital, the teaching hospital attached to Harvard University.
According to finance database Crunchbase, Daktari has now raised a total of $15.8m from a pool of investors also including angel and seed investment groups Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels and the Hub Angels Investment Group.
Founded in 2008, Daktari produces a diagnostic system developed at Massachusetts General Hospital that is able to analyse small amounts of blood and fluid in any kind of health treatment environment. The investment will be used to finish the development of Daktari’s initial product round, designed for use in the monitoring of HIV patients, and market it across the world.