Raw Ventures Invests in iFAST Diagnostics' $6.5M Seed Round to Accelerate Rapid Antibiotic Testing Technology
Raw Ventures has completed its investment in iFAST Diagnostics, a cutting-edge UK-based healthtech company that is revolutionizing the fight against antimicrobial resistance (AMR).
This is part of iFAST’s £5M ($6.5M) seed funding round, which will allow the company to bring its game-changing Antimicrobial Susceptibility Testing (AST) platform to market in early 2025.
Tackling a Global Health Crisis
Antimicrobial resistance (AMR) is a growing global health concern, and it is believed to be responsible for an estimated 1.27 million deaths annually. Accelerated antibiotic resistance complicates doctors when treating infections effectively.
Traditional AST methods, which can take 48 to 72 hours, often delay the administration of the right antibiotic, leading to worse patient outcomes which may include sepsis, a life-threatening condition.
iFAST’s innovative microchip-based technology provides rapid, precise results in under three hours, empowering clinicians to make faster, more informed decisions at this critical moment.
Making iFAST’s Vision a Reality
Founded in 2022, iFAST Diagnostics has already made impressive strides in developing its high-throughput AST platform.
The technology uses electrical impedance to analyze thousands of bacteria on a microchip, delivering both qualitative and quantitative results with exceptional speed. By significantly reducing testing time, iFAST’s solution ensures that patients receive the right antibiotic at the right time — a critical factor in improving survival rates and reducing the impact of resistant infections.
Toby King, CEO of iFAST, expressed his excitement about the deal, saying, “We are incredibly excited to receive the investment we need to bring our technology to market just a couple of years after founding the company. The thought of saving patients’ lives through them having the correct antibiotic at the right time is hugely motivating for the whole team.”
With the funding in place, iFAST is set to launch its platform in the UK in early 2025, with plans for expansion into the US and Europe soon after. As iFAST advances through clinical trials and regulatory approvals, the company’s rapid AST technology is expected to become a key tool in the fight against AMR, particularly in critical care settings like sepsis management.
In addition to improving patient care, iFAST’s technology will also help reduce the burden on healthcare systems. By providing more accurate and timely results, the platform enables better stewardship of antibiotics.
Raw Ventures’ Commitment to Healthtech
Raw Ventures has joined a diverse group of investors, including KHP Ventures (the first NHS-anchored venture fund), QantX, and UKI2S, to support iFAST’s mission. This highlights the fund's commitment to backing high-impact, transformative companies.
As part of its diversified portfolio, Raw Ventures continues to prioritize investments in healthtech. The company seeks out innovative solutions that address some of the world’s most pressing challenges, and iFAST’s groundbreaking work in antimicrobial susceptibility testing is a prime example of how a well-developed venture can transform an industry and save lives.