FindOut Diagnostic to raise SEK 7.5 million in a round led by Blq Invest.

FindOut Diagnostic, a Stockholm, Sweden-based developer of diagnostic self tests for health, announced the completion of a SEK 7.5M ($900k) capital raise.

The money was raised from investors from Sweden, including Blq Invest, AddHealth Media, Lars Lindgren, Peter Kjäll, Krim Talia and Alexander Stendahl.

FindOut Diagnostic, founded in 2001 and led by CEO Denise Luxenburg Stuifbergen, develops and sells health diagnostic self-tests for home use in a simple, straightforward and easily accessible manner. The tests involve a drop of blood, an immunoassay lateral flow test and results and analytics provided via a mobile app. The first product is in the field of infection and will be launched during 2021. With the neural networks as the basis, the app will be scaled to other areas for in-vitro diagnostics.

The company also has a product in the market, the FindOut Celiac Test (gluten sensitive), which is being distributed through the Swedish and Norwegian pharmacies.

FindOut Diagnostic previously raised money from AddHealth Media in 2017 and from VNTRS in 2020.