海角视频-based healthtech start-up Level Zero Health has successfully raised $6.9 million (£5.5 million) in pre-seed funding, setting the record for the largest amount garnered by female founders in Europe to date.
The investment, spearheaded by the European venture capital firm Redalpine, is aimed at bolstering the company's ambitious goal to transform hormone tracking, as reported by .
The funds are earmarked for furthering the development of the world's pioneering remote and continuous hormone monitoring device, which utilises novel DNA-based sensors for operation.
READ MORE: {}
Founded just over a year ago by former Palantir tech lead Ula Rustamova and medical device specialist Irene Jia, previously with Philips, Level Zero Health's achievement establishes a new standard for female-led startups across Europe, drawing 70 percent of the investment from within the region.
The company's innovative approach centres on a non-invasive wearable patch that adheres to the user's arm, furnishing them with instantaneous hormone level readings.
This technological solution offers continuous measurement of hormone levels, unlike conventional blood tests that provide only snapshot data points.
The implications of this technology are vast and could impact various areas including fertility treatment protocols, menopause management, and stress tracking amongst others.
Testing of the sensor's capabilities in simulated samples has demonstrated a formidable 98 percent accuracy rate, surpassing general industry benchmarks.
Most Read
Chief Executive Ula Rustamova has expressed her enthusiasm about the breakthrough, stating: "Our innovative remote monitoring technology marks an enormous leap in hormone testing."
Level Zero Health has raised £4.2m in pre-seed funding, with the company's innovative hormone tracking solution attracting significant investment.
"This funding will enable us to bring this revolutionary solution to the market, making hormone tracking more accessible and insightful than ever before".
Level Zero has already gained a strong following of potential customers, despite being in its early stages. The funding will be used to advance research and development, as well as expand the team.
While initially focusing on business-to-business (B2B) clinical applications, the company plans to expand into consumer health and pharmaceutical markets.
Redalpine investor and Level Zero Health board member, Philip Kneis, said: "We did it for blood pressure, and we will do it again for hormones. Continuous hormone measurement is one of the holy grails of diagnostics".
The company's clinical advisory board includes experts such as Harvard Medical School's Aaron Styler and reproductive science expert Joshua Klein.
Level Zero Health's pre-seed funding round surpasses the previous record held by Belong, a wealth-building platform that secured £2.9m in pre-seed funding last July, which was the largest pre-seed round ever raised by female founders in Europe at the time.