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CORE Diagnostics, a provider of high-end diagnostics services, said on Friday that Eight Roads Ventures, US-based F-Prime Capital Partners and existing investor Artiman Ventures will invest $12 million in the company. Terms of the transaction were not disclosed.
The company will use the investment to introduce multiple new advanced tests for oncology as well as for other segments such as infectious diseases and gynaecology.
“The next phase will be marked with geographical expansion as well as addition of new clinical areas, enabled by latest, cutting edge technology. This new round of capital will stand us in great stead, and I am excited about the journey ahead,” said founder Zoya Brar.
CORE, founded in 2012, has a focus on the rapidly escalating oncology disease segment and offers a comprehensive menu of over 1,000 tests, developed in-house and in collaboration with international partners. Tests are conducted at the company’s laboratory in Gurugram.
“CORE is ideally placed to take advantage of the increasing shift in India and developing countries towards earlier cancer diagnosis and evidence based medicine,” said Prem Pavoor, Partner at Eight Roads Ventures.
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