Alertix raises $400k in an angel investment round.
Alertix, a Kalmar, Sweden-based developer a solution able to detect cancer in animals in early stages, announced the completion of a SEK 4M ($400k) in capital investment.
The funding was provided by a range of local angel investors from Sweden, matched by a SEK 2.5M investment made by the Swedish government through Almi Invest. The money will be used to launch a test stick for dogs in the market over the next two years.
Alertix, founded in 2017 and led by CEO Bengt Åstrand, developed a rapid test for early detection of cancer in dogs, cats and horses. The company expects to make its products available in the market in 2020-2021 for dogs, then cats and horses. In the Swedish market, Alertix plans to sell the test, in the form of a test stick, to veterinarians who offer the dog owner the test as part of the consultation. The dog owner can partially pay for the cost through his dog insurance.