The Cambridge-based digital health diagnostics company will use the funds to support pharmacy, retail, and corporate partnerships, and deepen its relationship with the NHS.
Cambridge-based digital health diagnostics company PocDoc has raised £5 million in an oversubscribed new round of pre-Series A funding which takes the amount raised by the company to more than £10 million. It is the largest pre-Series A raise for a UK digital diagnostics business.
Launched in 2020, PocDoc is an app-based technology platform that uses microfluidic assay (MFA) technology and cloud-based AI diagnostics to assess, diagnose and treat major diseases.
Using machine learning, data and process integration, dynamic workflows, clinical teams and real-time alerting, the system allows anyone with a smartphone or tablet to receive a full health assessment and follow-up services, including speaking to a clinician, notifying your GP, sending your results to your patient record and providing real-time treatment options.
“We have new tests for metabolic, kidney and whole body health in the pipeline, and we’ll be scaling into new international markets next year,” says chief executive and co-founder Steve Roest.
The new round came from London-based investment firm MMC Ventures, British venture capital firm Molten VC and UK-focused early-stage investor Simplyhealth Ventures. The company added a new funder in this round – KHP Venture, the first NHS-anchored venture fund.
Tim Irish, partner at KHP Ventures, said that he had come in on this round because PocDoc was showing “excellent traction”. Earlier this year, PocDoc was integrated into the NHS app, via its Healthy Heart Check – a diagnostic test for cardiovascular disease that lets patients see their results immediately in the NHS app.
The funds raised will be used to support the company’s continued growth, specifically its growing list of pharmacy, retail, and corporate partnerships, as well as its deepening relationships with the NHS across the UK.
