Tuesday, January 12, 2021

Genalyte Finds $50M Funding

San Diego-based Genalyte, a developer of laboratory diagnostics and analytics products, announced on Monday that it has raised $50M in a funding round. The funding was led by Verily, an Alphabet company, and also included Provenio Capital, Redmile, Khosla Ventures, HBM Partners, Samsara and others. According to the company, it will use the funding to expand its testing menu and deploy its platform. The company has developed silicon chip-based technology which is used for performing multiple, simultaneous, rapid tests on a small volume of whole blood or serum in twenty minutes. Genalyte is led by CEO Ashraf Hanna. More information »

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