Medtech startup Verv Technologies raises C$3.8m in seed round

• Randox Laboratories is a biotechnology and laboratory services company
• Verv is focused on creating a blood chemistry analyser with disposable tests for home use
• Jeff Sutton is Verv’s founder and president

Sudbury, Ontario-based medical technology startup Verv Technologies has raised C$3.8 million in seed financing. The lead backer was Randox Laboratories.

Randox is a biotechnology and laboratory services company.

Verv is focused on creating a blood chemistry analyser with disposable tests for home use, that will help individuals measure a wide range of analytes (i.e. cholesterol, vitamin levels, hormones).

Randox Laboratories develops diagnostic solutions for hospitals, clinical, research and molecular labs, food testing and more. Their technology is used in over 4 billion tests annually in over 145 countries, to over 100,000 entities.

“We are thrilled to have Randox as a major investor in Verv to help propel us to commercial readiness and the opportunity to work with the original founder and managing director of Randox, Dr. Peter Fitzgerald, who will join Verv’s Board of Directors,” said Jeff Sutton, founder and president of Verv Technologies, in a statement. “Verv will use the investment to accelerate the completion of commercial products, expand the suite of tests for consumers, enhance our exceptional team, and complete regulatory processes over the next year.”