TLT has completed a Series A round for biotech startup Hyris to help it achieve its ambition to be the global leader in mobile genetic analysis.
The UK-based startup has developed a disruptive platform that enables genetic testing of biological samples in any setting, at any time, with real time access to results on its dedicated cloud based software platform.
The solution has applications in the medical, veterinary and agrofood industries and has recently been updated to detect Covid-19 pathogens.
TLT advised Hyris on the terms on the investment documents and liaised with the large group of other parties and investors to deliver a positive outcome for Hyris. The team was led by corporate partner Antonia Silvestri alongside corporate associate Henry Male.
The funding round was led by Astanor Ventures with participation from a strategic pool of Italian investors.
Stefano Lo Priore, Hyris’ founder and CEO, states: “We are on a mission to disrupt the market and create a healthier, more trusted food system. We are excited to join forces with Astanor and grateful to TLT for their support in getting this across the line.”
Antonia Silvestri, partner at TLT, says: “Hyris is a great example of the innovative solutions that UK startups are creating that can address some of the important issues we face, like Covid-19. We were really pleased to be advising them on their Series A round and look forward to seeing the business grow with the support of its investors.”
Cross Border Growth Capital assisted Hyris as financial adviser in the fundraising process.