London healthtech raises £4.6m to scale "groundbreaking" Covid testing technology
A UK healthtech startup has announced that it has raised £4.6m as it aims to scale its Covid testing technology worldwide.
Vatic, based in London, has raised the £4.6m through a seed round led by LocalGlobe and Hoxton Ventures.
The company has developed at-home testing technology which identifies infectious viruses by mimicking the surface of a human cell - redesigning how lateral flow tests are built and enhancing their accuracy.
It plans to use its new investment to scale globally and deploy its “groundbreaking” technology on a range of other acute diseases.
Alex Sheppard, co-founder and CEO of Vatic, commented: “One reason for the recent decline in the uptake of rapid Covid-19 tests is the sampling technique – it’s currently very uncomfortable and difficult for people to use.
“We need to take the pain out of mass testing if we’re to return to normal to minimise the disruption caused by future Covid-19 outbreaks, whether in offices, schools or hospitality venues.
“That’s why we’ve built supportive bio security technology that sits alongside the test, allowing users to generate their own unique QR codes to facilitate safe venue entry.”
Mona Omir, co-founder, said: “Importantly, the KnowNow test is only the first iteration of Vatic’s technology.
“Our innovation has been designed to identify other infectious viruses by mimicking the surface of a human cell - no other testing technology is capable of this. Following the success of the Covid-19 test we’re excited to deploy the technology into other areas of at-home testing.”
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