Nicoya Lifesciences, a Kitchener, Ont.-Canada-based biotechnology company, raised $2m in financing.
The round was led by Ripple Ventures and GTAN, with participation from MaRS IAF, BDC, Garage Capital, Angel One, Maple Leaf Angels, Innovation Grade Ventures, the Laurier Startup Fund, the University of Waterloo Student Venture Fund and the Waterloo Alumni Angels.
The funding will support new product development and expand sales and marketing.
Launched in 2012 as a spin-out of the University of Waterloo by Ryan Denomme, CEO, Nicoya Lifesciences uses nanotechnology to reduce the cost and complexity of scientific instruments, making them accessible to everyone. By using sensitive biosensors, these instruments allow scientists to understand diseases and develop new drugs to treat them.