Babson Diagnostics: Raises $31M in Series B Funding

Babson Diagnostics: Raises $31M in Series B Funding

• Babson Diagnostics, an Austin TX-based medical technology company, raised $31M in Series B funding
• The round was led by Emerald Development Managers with participation from Healthineers, Prism Ventures, and Lago Consulting Group
• The company intends to use the funds to expand its laboratory and ecosystem infrastructure, finalize its blood testing solution development
• In conjunction with the funding, Neil Cohen, founder and chairman of Emerald Development Managers, will join Babson’s board of directors
• Originally incubated at Siemens Healthineers and using an innovative collection device developed in collaboration with BD
• Innovations in collection, sample handling, and analysis enable the company to use small capillary samples to produce a full range of diagnostic tes