Unravel Health Raises €2.96 Million in Pre-Seed Funding
Unravel Health, a London-based startup, has successfully raised €2.96 million in a pre-seed funding round. The investment, led by Conduit EIS Impact Fund and Wrightwood, aims to advance the development of their innovative hormone testing device. Other participants in the round include Leo Capital, Embryo Ventures, Hermesa, and Zinc VC.
Innovating Hormone Testing
Unravel Health has developed a unique device capable of measuring multiple hormones in saliva within minutes. This device, known as the Micro Lab, provides near real-time hormone analysis, revealing patterns that traditional blood tests might miss. The technology is built on a decade of research conducted at the University of Glasgow and is protected by three patents.
Leadership Team and Vision
The company was co-founded by Veronika Bridgman, who also serves as CEO, alongside Alexandra Oti, the Chief Marketing Officer, and Liza Levy, the Chief Commercial Officer. Bridgman shared her vision for the company: "Reading hormones in saliva outside a lab has been our Everest. Soon anyone will be able to bring the lab home to understand their symptoms."
Use of Funds
The newly acquired funds will primarily be used to further develop the Micro Lab device, enhancing its capabilities and making it more accessible to consumers. This funding will help the company move closer to its goal of transforming how individuals understand and manage their hormonal health.
The Growing Market for Hormonal Health
The investment reflects a growing interest in addressing hormonal health issues, particularly for women, which remains a largely underserved area in healthcare. Eva-Maria Dimitriadis, Managing Partner at Conduit EIS Impact Fund, noted the potential impact of Unravel Health's technology in this market.
Unravel Health's latest funding round marks a significant step forward in the development of their innovative technology, with the potential to revolutionize personal health monitoring.