Finnish startup Measurlabs, offering laboratory analysis and testing services that help researchers, quality assurance, and R&D professionals get the tests they need, has raised €2.5 million in new seed investment. The round was led by VentureFriends and joined by existing investors Lifeline Ventures, Tesi, and Curus. With the new funding, Measurlabs will scale its operations across Europe and further develop its unique logistics and purchasing platform.
Founded in 2017 by two PhD students, Teemu Myllymäki and Kalle Lagerblom, Measurlabs’ mission is to help product developers, quality controllers, and researchers save time and money by offering them all the tests they need in one place. Measurlabs’ online platform combines the services of 900+ laboratories, enabling companies to obtain all the required tests in one place, get the expert support they need, and save money on analysis costs.
“Finding a testing services provider that can perform the required tests and offer expert help is challenging. Requesting offers from several laboratories, dealing with poor communication, or waiting for delayed results causes inefficiencies in product development and quality management, is a waste of time and money, and interferes with project workflows,” explains Teemu Myllymäki, CEO and co-founder of Measurlabs, about the need for modern laboratory services.
After building a strong customer base in Finland during its first years, Measurlabs has already gained significant international traction, with customers from close to 40 countries and an average customer satisfaction score of 9.1 out of 10. Measurlabs’ clients include sustainability-industry forerunners such as Sulapac, Woodio and Kone.
According to the founders, their clients are prominent companies that have been excited to finally find an easy solution for their pressing testing and analysis needs. Measurlabs offers them a range of testing methods, digital purchasing platform, and customer support from top experts in different testing fields.
“We are excited to join Teemu, Kalle, and the wider Measurlabs team on their journey to significantly improve laboratory testing services management and achieve lower costs and time-to-market for products. With increasing regulation and demand for end-customer safety, the team is tapping into a growing need for modern testing services,” commented Apostolos Apostolakis, partner at VentureFriends and the lead investor in the round.
“We invested early on into the company, as we believe in Measurlabs’ unique ability to reshape the R&D landscape. Their team has a strong understanding of the market needs and is ambitious in their mission to change how the laboratory and analysis market operates. We continue to be excited about being a part of this journey,” added Tuomas Rekonen, Investment Manager at Tesi, and early investor in the company.
