iFAST Diagnostics Raises £5M To Advance Rapid Infection Testing Technology

The round was led by Meridian Health Ventures, with continued backing from existing investors including QantX, RAW Ventures, OKG Capital, and members of Cambridge Capital Group.

The funding also includes £2.1 million in non-dilutive loan support from Innovate UK.

iFAST Diagnostics is focused on the growing $4 billion AST market and has developed rapid testing technology capable of delivering results in under three hours from a positive blood culture bottle and within three to four hours from a raw urine sample.

Read Also - Transition Ventures Raises €128M Fund II To Back AI And DeepTech Startups

The technology aims to support faster treatment decisions, improve patient outcomes, and help combat antimicrobial resistance.

The oversubscribed round values the company at nearly five times its valuation from 18 months ago and brings total funding raised to £12 million.

The new capital will support the company’s UK expansion, EU regulatory approval efforts, and the advancement of its clinical and regulatory programs for future FDA approval in the United States.

Dr Toby King, CEO, iFAST Diagnostics said: “We are hugely grateful and motivated by the continued enthusiasm and confidence from our investors to support our mission to meet the urgent global need for rapid, low-cost antimicrobial susceptibility testing. This investment is hugely significant as it allows us to continue our go-to-market strategy at pace, only three years after founding the company.”

About iFAST Diagnostics

Founded in 2022, iFAST Diagnostics is a UK biotech company developing rapid, low-cost antimicrobial susceptibility testing technology. Its platform helps healthcare providers quickly identify the most effective antibiotic for bacterial infections, enabling faster treatment decisions, improving patient outcomes, and helping combat the growing global challenge of antimicrobial resistance.