The company’s team of 20 scientists and engineers are working on ‘next-generation molecular detection’.
Altratech has raised €5m for “cutting-edge health research” that could enable anyone to perform rapid genetic tests from different samples.
The funding round was led by the Bank of Ireland Kernel Capital Growth Fund and Infinity Capital, which both invested €1.5m. Enterprise Ireland also invested €500,000 while Claret Capital provided €1.5m in a venture debt facility.
Cork-based Altratech is bringing together nanobiotechnology, chemistry and semiconductors to develop molecular detection tech that would allow people to rapidly and accurately measure and quantify viral RNA, DNA, antigen or antibody samples.