Key Takeaways
- • Nanopath, a Cambridge, Mass.-based point-of-care diagnostics company, has announced the close of a $25 million Series B financing round, including $2 million in non-dilutive grant financing.
- • The round was co-led by Norwest and SV Health Investors' MedTech Convergence Fund, with strategic participation from the Labcorp Venture Fund.
- • Additional investors include Elderberry Ventures, GingerBread Capital, and Alumni Ventures, bringing Nanopath's total capital raised to more than $46 million since its 2020 founding.
- • Nanopath's biosensing platform aims to deliver laboratory-quality molecular testing in minutes at the point of care rather than in centralized labs.
Summary
Nanopath has announced the close of a $25 million Series B financing round, according to the company's announcement. The round includes $2 million in non-dilutive grant financing, meaning that portion does not dilute existing shareholders.
The round is co-led by Norwest and SV Health Investors' MedTech Convergence Fund. The Labcorp Venture Fund participated as a strategic investor. New and existing investors also took part, including Elderberry Ventures, GingerBread Capital, and Alumni Ventures.
Nanopath describes itself as a point-of-care diagnostics company enabling laboratory-quality molecular testing in minutes. Its proprietary molecular diagnostic platform uses novel biosensing technology that the company says could enable fast, high-complexity testing outside centralized laboratories. The company is women-led and states that its mission is to improve health equity worldwide, beginning with women's health.
Founded in 2020, Nanopath is headquartered at The Engine, the MIT-built facility in Cambridge, Mass. focused on tough-tech startups. The company has raised more than $46 million to date. Its backers now include Norwest, the MedTech Convergence Fund, SV Health Investors, Elderberry Ventures, GingerBread Capital, Alumni Ventures, and the Labcorp Venture Fund.
The round is co-led by Norwest and SV Health Investors' MedTech Convergence Fund. The Labcorp Venture Fund participated as a strategic investor. New and existing investors also took part, including Elderberry Ventures, GingerBread Capital, and Alumni Ventures.
Nanopath describes itself as a point-of-care diagnostics company enabling laboratory-quality molecular testing in minutes. Its proprietary molecular diagnostic platform uses novel biosensing technology that the company says could enable fast, high-complexity testing outside centralized laboratories. The company is women-led and states that its mission is to improve health equity worldwide, beginning with women's health.
Founded in 2020, Nanopath is headquartered at The Engine, the MIT-built facility in Cambridge, Mass. focused on tough-tech startups. The company has raised more than $46 million to date. Its backers now include Norwest, the MedTech Convergence Fund, SV Health Investors, Elderberry Ventures, GingerBread Capital, Alumni Ventures, and the Labcorp Venture Fund.
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