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Diagnostics Startup Atonarp Wins $33m Series C Round

August 26, 2019

Tokyo-based Atonarp, a high-molecular diagnostics firm, has raised $33 million in a Series C funding round. The round, which Atonarp has announced was oversubscribed, introduced five new investors to the company including Japan Post Investment Corporation and SBI Investment Co. The round brings Atonarp’s total investment above $61m, as it increases prototyping and commercialization of its medical diagnostic products.

Atonarp, founded in 2010, has developed the AMS 1000, the world’s first and smallest quantitative mass spectrometer. It traces contaminants alongside Atonarp’s AI-based spectrometry platforms, saving time and pain for patients and healthcare professionals.

Prakash Murthy, the company’s CEO, says that “with our recent innovative engineering progress, we are well-positioned to meet our product roadmap deliverables in 2020. Both the general population and healthcare providers are ready for this revolutionized healthcare experience—especially when it is priced competitively.

The software composition analysis market is set to top $398m by 2022, according to Component, a researcher. Medicine is one of the market’s key verticals, as time-stretched medical professionals reach for technology that is durable, reliable and cost-effective. The global medtech market is growing at a CAGR of 6%, and will be worth an estimated $585bn by 2022 according to consultant IQVIA.

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Filed Under: Asia, Finance

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