Theranos competitor Genalyte just announced it has raised an equity round of $36 million in funding led by Khosla Ventures and Redmile Group.
The San Diego-based startup leverages lab-on-a-chip technology it says can run through up to 128 different tests on a single finger prick of blood in under 15 minutes using what it calls its Maverick Detection Platform. Genalyte’s proprietary silicon chip contains arrays of photonic microring sensors to detect diseases like rheumatoid arthritis and the startup hopes to use this technology in an outpatient setting, pending FDA approval.
