Truvian latest medtech firm to receive large venture backing

By William Smith
Truvian's offering is designed around removing the need to send blood for testing at centralised labs, instead allowing clinicians to do check-ups on si...

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 three funding rounds. 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."

Consumer-directed healthcare

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."

Share

Featured Articles

6G: Predictions for the network of the future

With cloud-based technology enabling higher speeds and microsecond latency, experts predict 6G will transform the world. The next generation is coming

Blockchain in space could take tokens and NFTs into orbit

SpaceChain says its latest mission to the International Space Station via a SpaceX rocket blazes a trail for off-planet, high-speed blockchain processing

ICYMI: Top 10 DevSecOps tools and cut-price animal robots

A week is a long time in tech, so here are some of Technology Magazine’s most popular articles which have been starting conversations around the world

Altered Egos: Digital twins hold up a mirror for machines

Digital Transformation

Blockchain technology puts paid to US energy data attacks

Cloud & Cybersecurity

Cybersecurity response costs up in light of new cloud risks

Cloud & Cybersecurity