France-based cellular diagnostics company Cytoo secured €7m ($10m) in a series C round co-led by medical risk management company Sham and venture capital (VC) fund the Entrepreneur’s Fund on Saturday. VC firm Auriga Partners and Cytoo co-founder Jacques Lewiner also participated.
Auriga Partners led Cytoo’s $4.7m series B round, in 2009, which followed a $700,000 seed round raised the year backed by CEA Valorisation, the investment subsidiary of the French government backed Atomic Energy and Alternative energies Commission, as well as French VC entities Expansinvest and Rhone-Alpes-Creation.
Cytoo will use the capital to accelerate the commercialisation of its cellular technology.
Olivier Szymkowiak, chief investment officer at Sham, said: "We are very excited about joining CYTOO as it enters a new phase in its development."