Bond Digital Health raises £700,000 for rapid Covid-19 test

4 May 2020 (Last Updated May 4th, 2020 17:33)

UK medtech company Bond Digital Health has received investments worth £700,000 to help it develop the digital element of a new Covid-19 rapid test.

The test is based on lateral flow technology. Bond will add digital connectivity to the test to allow data to be securely captured, stored, analysed and shared in real time, which could help authorities monitor the spread of the outbreak.

Members of Wealth Club filled their entire £400,000 allocation within one minute of the offer opening and the Development Bank of Wales’s technology venture investments team provided a further £300,000.

Bond Digital Health CEO Ian Bond said: “In the fight against Covid-19, we need affordable, accurate, rapid tests in huge volumes.

“To make a real impact we need to collect the test data to help authorities monitor the spread of the outbreak. Bond is proud to be adding its unique digital connectivity technology to such tests.”