DOTS Technology, a stealthy startup developing rapid diagnostics technologies, has raised about $20.4 million from investors, according to a document filed with the SEC.
The fresh capital includes Series B preferred stock and common stock that is issuable upon the conversion of the preferred stock, according to the regulatory filing. Natick, MA-based DOTS previously raised at least $10 million in venture funding, SEC filings show. Its backers include New Enterprise Associates.
The startup is developing technology that can rapidly diagnose ailments at the point of care—DOTS stands for “detection on the spot.” The company is focusing initially on a food allergen detector that consumers would use to test their food prior to eating, according to its LinkedIn profile. DOTS isn’t the only company developing food-testing products for people with allergies; others include Allergy Amulet and Nima.
DOTS has kept quiet about its work, and co-founder and CEO Renuka Babu declined to comment on the regulatory filing.
Babu was previously Boston University’s executive director of new ventures, and before that she was an executive at Medicine In Need, a biotech nonprofit focused on drug and vaccine delivery in developing nations, according to her LinkedIn profile. Her DOTS co-founder and chief scientific officer, Adi Gilboa-Geffen, was a postdoctoral researcher at Harvard Medical School’s Immune Disease Institute, according to LinkedIn.