Scottish firm whose tech promises ‘happier, healthier pets’ gets £2.7 million growth injection
“The opportunity to deploy our diagnostic platform globally through our partner laboratories is taking shape” – Eve Hanks, chief executive and founder
An Edinburgh-based diagnostics specialist whose technology can help spot health problems in animals has secured $3.6 million (£2.7m) in funding as it looks to scale up its business.
Molecular diagnostics company MI:RNA, which uses biomarkers and advanced modelling to identify veterinary disease earlier, said it had achieved a “growth milestone” with the completion of its oversubscribed funding round.
The conclusion of the firm’s second venture capital-led financing round comes as it undertakes a period of rapid expansion and commercial progress. It is looking to bring “faster, more accurate, and more accessible diagnostic solutions to veterinarians, producers and animal health professionals worldwide”.
Having achieved a $4m Series A funding round in July 2024, the latest round is said to have attracted strong participation from existing investors, reflecting confidence in the company’s early disease detection technology, commercial strategy and international presence, as it partners with lab networks in the UK and the EU.
The company has also brought on board two new investment funds bringing an “added breadth of expertise to the table”.
Eve Hanks, chief executive and founder, said: “Our technology uses biomarkers and advanced modelling to spot health problems in animals earlier than ever before with a simple blood sample. With this incredible new approach, we can diagnose, monitor and predict how diseases will develop for happier, healthier pets and a sustainable future for agriculture.
“The opportunity to deploy our diagnostic platform globally through our partner laboratories is taking shape, and this positive support from our investors not only validates the strength of our technology and market approach, it also accelerates our continued development and technological advancement as we work to bring critical diagnostic solutions into the hands of those who need them most.
“This is a positive milestone for us that will allow us to scale more quickly, as we work to give animals longer, healthier lives.”
Funds have been raised from existing investors including NovaQuest, Kyoritsu Holdings Corporation, VANE (angel syndicate), Animal Health Angels, Equity Gap, Gabriel, Scottish Enterprise, as well as new investors Holstein UK and AniVC.
The firm opened a US research lab facility at the University of Georgia in Athens last year.
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