NEW YORK — Nuclein said on Wednesday that it has raised $14 million through a Series B financing round.
The round was led by Trinity Private Equity Group.
Nuclein was founded in 2017 to commercialize a small, battery-powered, disposable RT-PCR system, called the Nuclein Hand-Held PCR Test, that provides results within an hour. The Austin, Texas-based company is also developing tests that run on the system including one for SARS-CoV-2 and expects to submit a COVID-19 testing device the US Food and Drug Administration for Emergency Use Authorization in the "near future."
Nuclein said it will use the new funding to bring its PCR system to market, as well as to ramp up its manufacturing and distribution operations. The company, which currently has about 30 employees, said it also aims to hire additional molecular biologists, engineers, and manufacturing staff.
The company said that it has raised about $20 million to date.