Truvian latest medtech firm to receive large venture backing
San Diego, California-based Truvian is a medtech firm using automation to provide blood-testing diagnostics.
The company’s offering is designed around removing the need to send blood for testing at centralised labs, instead allowing clinicians to do check-ups on site, saving both time and money.
A holistic solution
Currently still in development, Truvian’s benchtop system is able to carry out a range of blood tests in one device, including chemistries, immunoassays, and hematology assays.
Since its 2015 foundation, the company has raised over $150mn including in Its most significant round to date came yesterday, via a $105mn Series C. Led by TYH Ventures, 7WireVentures and Wittington Ventures, the round also involved General Catalyst, GreatPoint Ventures, DNS Capital, and Wasson Enterprise.
"The global pandemic has further demonstrated that consumers want more control over their personal healthcare journeys. Today's announcement signifies tremendous confidence in Truvian's goal of decentralizing healthcare by bringing point-of-care diagnostic testing to a highly complex, distributed market," said Jeff Hawkins, President and Chief Executive Officer of Truvian. "I have full confidence that our executive team and board have the proven leadership and depth of experience in healthcare to deliver our benchtop platform and test menu through global regulatory approvals, making routine testing more convenient and accessible for all."
The company said it would use the funds to continue development before submitting it for US Food and Drug Administration (FDA) clearance.
"As we move to a more consumer-directed system of healthcare, providing easy, convenient access to a full suite of high-quality blood tests at a local pharmacy, an on-site clinic at work or a physician office will be a game changer," said Glen Tullman, Managing Partner at 7wireVentures. "New rapid diagnostic tools are essential to provide health consumers with more information earlier in the process and equip clinicians with the information they need to provide high-quality care."
Microsoft: Building a secure foundation to drive NASCAR
Microsoft is a key partner of The National Association for Stock Car Auto Racing (NASCAR) and together they are driving ahead to create an inclusive and immersive new fan experience (FX).
These long-term partners have not only navigated the challenges posed by the COVID-19 pandemic with the use of Microsoft Teams and Microsoft 365, but are now looking to a future packed with virtual events to enhance the FX, well beyond NASCAR’S famous Daytona racetrack.
“Together, we've created a secure environment that's allowed for collaboration, but the future is all about the fans”, said Melinda Cook, General Manager for Microsoft South USA Commercial Business, who cited a culture of transparency, passion, adaptiveness, and a growth mindset as to why this alignment is so successful.”
“We've partnered to create a fluid, immersive experience for the users that is supported by a secure foundation with Microsoft in the background. We are focused on empowering and enabling customers and businesses, like NASCAR, to reach their full potential. We do this with our cloud platform which provides data insights and security.”
“Our cloud environment allows NASCAR to move forward with their digital transformation journey while we are in the background,” said Cook who highlights that Microsoft is helping NASCAR
- Empower employees productivity and collaboration
- Improve fan engagement and experience
- Improve environment security and IT productivity
- Improve racing operations
Microsoft Teams, which is part of the Microsoft 365 suite, enabled employees to work remotely, while staying productive, during the pandemic. “This allowed people to provide the same level of productivity with the use of video conference and instant messaging to collaborate on documents. Increased automation also allows the pit crews, IT, and the business to focus on safety, racing operations, and on the fan experience,” said Cook.
“We have started to innovate to create a more inclusive fanbase, this includes using Xbox to give people the experience of being a virtual racer or even leveraging some of the tools in Microsoft Teams to have a virtual ride along experience.”
“These environments are how we create a more inclusive and immersive experience for the fans. We're working on a virtual fan wall which allows people from new locations to participate in these events,” said Cook, who pointed out Microsoft was also helping bring legacy experiences alive from NASCAR’s archives.
“At Microsoft we can take it one level further by letting fans know what it's like to see the pit crew experience, the data and all the behind-the-scenes action. We will continue to improve automation with machine learning and artificial intelligence, from marketing to IT operations to finance to racing operations,” said Cook.
Christine Stoffel-Moffett, Vice President of Enterprise Technology at NASCAR, said: “Microsoft is one of our key partners. They have been instrumental in helping the NASCAR enterprise technology team re-architect our Microsoft systems to ensure an advanced level of security across our environment, contribute to our business outcomes, and focus on fan experience.”