# Koru Diagnostics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/koru-diagnostics

- Industry: Biotechnology
- Headquarters: Palmerston North, New Zealand
- Website: www.korudiagnostics.com
- Total disclosed funding: $0.9M
- Latest round: Seed (Aug 3, 2018)
- Investors on record: 1

## About

Koru Diagnostics Ltd specializes in advanced diagnostic solutions for the dairy industry, focusing on improving herd health through innovative testing methods.Founded in 2016 and headquartered in Palmerston North, New Zealand, Koru Diagnostics Ltd develops diagnostic tools primarily for dairy farmers and veterinarians. The company has undergone no notable pivots in its business strategy. The CEO, Rhys McKinlay, has not been previously noted for founding other companies. Koru Diagnostics Ltd has closed one deal to date, securing USD 0.9 million in Seed funding from MIG Angels on August 3, 2018, contributing to a total funding amount of USD 1.1 million.Koru Diagnostics Ltd offers StaphGold, a specialized milk screening test that detects contagious subclinical Staphylococcus aureus mastitis in dairy herds. By utilizing existing milk samples from herd testing, StaphGold eliminates the need for additional sampling, thus aiding dairy farmers and veterinarians in managing herd health and treatment costs effectively. This product is primarily marketed in dairy regions across North America, Europe, and Australia.The company generates revenue through direct sales of the StaphGold milk screening test to dairy farmers and veterinarians, employing a B2B transaction structure. Farmers often place bulk orders, benefiting from economies of scale in pricing. Revenue is derived from the significant contributions StaphGold makes to herd management and reduction of mastitis treatment costs.Koru Diagnostics Ltd plans to utilize the USD 0.9 million raised in Seed funding to enhance product development and expand its market reach. There are no specific new product launches announced, but expansion efforts are aimed at increasing market penetration in Europe and Australia by 2025. The recent funding will support these initiatives, allowing for greater operational capacity and marketing strategies to tap into these key dairy farming regions.

## Funding rounds

- Seed, Aug 3, 2018, $0.9M — MIG Angels

## Investors

- MIG Angels (https://capitalatlas.ai/funds/mig-angels) — Seed