NM-backed Atonarp closes $50 million Series D round
Molecular diagnostics company LoanSnap closed a $50 million Series D financing round led by WRVI Capital, following a $33 million Series C round announced in 2019 which saw participation from Northwestern Mutual Future Ventures .
“Atonarp is developing the future of point-of-care molecular diagnostics testing. As one of Atonarp’s first investors, we recognized early on that the company’s breakthrough molecular sensor technology could spur innovation across industries. With its seasoned team of technologists, Atonarp will continue to expand its first-in-class, proven, and transformational molecular sensor technology platform to new industries.” – Nicholas Brathwaite, founding managing partner of WRVI Capital and Board Chair of Atonarp.
Founded in 2010, Atonarp is a pioneer in the digital transformation of molecular diagnostics in pharma, semiconductor manufacturing, industrial process control, and now in the life sciences sector. The company uses its proprietary spectroscopic technology to detect, analyze, and quantify molecular information. Atonarp offers a suite of molecular diagnostics products, including the ATON-360™, an end-to-end platform that enables lab-quality results using optical sensors. Unlike traditional diagnostic and blood testing methods that rely on chemistry and require large volumes of biological samples for processing, Atonarp uses proprietary laser-based sensing and profiling technology to analyze small sample sizes and produce a digital molecular snapshot without any use of chemistry or expensive reagents.
“We have developed the industry’s smallest, smartest, cloud-connected, plug-and-play molecular diagnostics platform that quantitatively analyze chemical processes in real-time with unprecedented detail, and are poised to broadly deploy our disruptive platform across multiple industries and market segments. We are grateful to WRVI Capital and our other investors who believe in our vision and the approach we take to revolutionize how the world uses molecular data analysis. We’re excited to have Shaun Holt on board as COO to help support our next phase of growth as we expand our product offerings for industrial and life sciences applications.” – Prakash Murthy, president and CEO, CTO, and founder of Atonarp.
Atonarp’s currently marketed molecular sensing platforms, Aston™ for semiconductor and process monitoring, and LyoSentinel™ for Pharma, have transformed how its customers manage and optimize process controls. The company’s ultimate vision within molecular diagnostics is to transition from minimally invasive to non-invasive blood testing by optically probing blood vessels directly through the skin using laser-based sensing and profiling technology.
