Finnish Measurlabs, a provider of laboratory analyses and testing services, secures €2.5M
01 September, 2023,
12:10
Helsinki-based Measurlabs, that offers laboratory analysis and testing services for researchers, has secured €2.5 million in a seed round to scale its operations. The round was led by VentureFriends, joined by existing investors Lifeline Ventures, Tesi, and Curus.
About Measurlabs:
- Founded by two PhD students, Teemu Myllymäki and Kalle Lagerblom in 2017, Measurlabs is a laboratory analysis and testing service provider that helps researchers, quality assurance, and R&D professionals get the tests. The team consists of 28 people. Measurlabs’ online platform combines the services of 900+ laboratories.
- Measurlabs has customers from about 40 countries, including such companies as Sulapac, Woodio, and Koneand. The startup claims that its main goal is to help product developers, quality controllers, and researchers save time and money by offering them all the tests they need in one place.
“Our clients are prominent companies that have been excited to finally find an easy solution for their pressing testing and analysis needs. Our clients have specifically thanked Measurlabs’ range of testing methods, digital purchasing platform, and customer support from top experts in different testing fields,”
explains Teemu Myllymäki, CEO and co-founder of Measurlabs.
- The round was led by Greek VentureFriends, a venture capital fund founded in 2016 that invests in tech-enabled companies and Seed and Series A startups. In August this year, it joined the €10 million round for the Danish weight loss app Embla.
- The investment was also joined by existing investors: Helsinki-based early-stage VC firm Lifeline Ventures, Finnish investment firm Tesi, and Curus, a Stockholm-based VC firm.
- With the new funding, the company is looking to expand further into Europe, and set up local teams in new countries, starting from the UK. The company is also doubling down on the technical capabilities of its online platform by introducing in-platform payments soon.