HealthTech firm Thriva has secured a 拢4m extension to its Series A funding round from Berlin-based VC Target Global.
The latest investment takes the London-based firm鈥檚 total funding to 拢11m, and will support expansion of its at-home health service.
The investment comes from Target Global鈥檚 new Early Stage Fund II and will top up the 拢6m Series A raised in 2019. Existing investors include Guinness Asset Management and Pembroke VCT.
The firm鈥檚 service is designed to help customers understand, keep track of and improve their health.
It does this through at-home testing kits, which are processed by accredited labs which can analyse for indicators of heart disease and diabetes, to vitamins and minerals and hormone function.
Thriva have processed over 115,000 test at-home blood tests since 2016, 76 of which have achieved an improvement in at least one of their biomarkers, the firm claims.
It is now launching personalised health plans and supplements as it scales up partnerships with hospitals and other healthcare providers looking to provide at-home testing to their patients and clients.
The company, which was founded by Hamish Grierson, Eliot Brooks and Tom Livesey, continues to grow 100% year-on-year and has expanded its team to 50 team members in the company鈥檚 London Headquarters.
Hamish Grierson, co-founder and CEO of Thriva said: 鈥淎s the world faces unprecedented challenges posed by the coronavirus crisis, we have all been forced to view our health, and our mortality, in a new light.
鈥淲hilst we cannot protect ourselves entirely from the tragic effects of a global pandemic like COVID-19, this period may inspire people to invest in their general health for the long-term.鈥�
Dr Ricardo Sch盲fer, Partner at Target Global added: 鈥淲e are witnessing a shift in consumer behavior towards an increasingly proactive approach to health: people want to know what鈥檚 going on inside their bodies.
鈥淐ovid-19 is further accelerating this trend, which requires remote blood testing. Thriva is playing an essential role in providing a solution for increasing the test volume. We are excited to partner with Hamish, Eliot, and Tom at this pivotal point in time for the company.”