Babson Diagnostics, an Austin TX-based medical technology company, raised $31M in Series B funding.
The round was led by Emerald Development Managers with participation from Healthineers, Prism Ventures, and Lago Consulting Group.
The company intends to use the funds to expand its laboratory and ecosystem infrastructure, finalize its blood testing solution development, and grow its sales and marketing teams. In conjunction with the funding, Neil Cohen, founder and chairman of Emerald Development Managers, will join Babson’s board of directors.
Originally incubated at Siemens Healthineers and using an innovative collection device developed in collaboration with BD (Becton, Dickinson and Company), Babson has advanced a technological ecosystem that reimagines the entire diagnostic blood testing process. Innovations in collection, sample handling, and analysis enable the company to use small capillary samples to produce a full range of diagnostic test.
Led by and David Stein, Ph.D., chief executive officer, Eric Olson, Babson’s founder, chairman, and chief operating officer, Babson plans to deploy its proprietary diagnostics ecosystem at pharmacies and other retail locations throughout the country.
FinSMEs
04/07/2021