NEW YORK – Australian health technology startup Nutromics said on Thursday that it has raised $14 million in its pre-Series A funding round, bringing the company's money raised to date to over $20 million.
Investors in this round included Dexcom Ventures, VU Venture Partners, and Artesian Investments, Nutromics said, and the funding will support the expansion of clinical studies, R&D team, and investment across both its Australian and US hubs.
Established in 2017, Nutromics, now with offices in Brunswick, Victoria, and San Diego, is using an electrochemical DNA aptamer-based sensor technology licensed from the University of California, Santa Barbara to develop a noninvasive, continuous molecular monitoring medical device that it initially hopes to enable applications such as antibiotic monitoring. Earlier this year, it appointed former Abbott Laboratories Senior Medical Director Agim Beshiri as its inaugural chief medical officer.
The company said it "plans to raise significantly more funding in 2023 following in vivo clinical studies."