Onalabs, a Catalonia.health member company specialising in the digital monitoring of metabolic biomarkers through sweat, has closed a €9.3 million investment round that will strengthen its financial position and accelerate the commercial rollout of its business lines.
A round led by SETT with participation from international funds
The operation is backed by the Spanish Society for Technological Transformation (SETT), which is contributing €4.6 million through the Next Tech facility, as part of the Recovery, Transformation and Resilience Plan funded by the EU's Next Generation funds. The round also includes 1921 Ventures, an Austrian fund specialising in diabetes, nPrime, a Singapore-based fund, and strategic partners Reig Patrimonia and WA4STEAM.
Proprietary technology for continuous physiological monitoring
Founded in 2016 in Barcelona by biotechnologist Elisabet del Valle and chemist Xavier Muñoz, Onalabs combines proprietary hardware with an AI-based digital platform to obtain physiological data continuously from metabolites present in sweat, rather than through single-point blood tests. This analysis makes it possible to understand the body's functional state in real time and identify imbalances before they become clinically apparent.
Use of funds: ONASPORT, ONAVITAL and future product lines
The capital raised will be used to accelerate the industrialisation of ONASPORT, the company's non-invasive monitoring device for athletes, coaches and technical teams, already in its commercial phase, and to advance the clinical and regulatory validation of ONAVITAL, Onalabs' wearable for continuous monitoring of vital signs such as oxygen saturation, blood pressure, skin temperature and heart rate. Part of the funds will also go towards developing a new product line focused on managing chronic diseases such as diabetes, as well as the design of quantum dots that can be integrated into its devices to expand their biological data-capture capabilities.
Team growth
Onalabs currently has a team of 30 people and a portfolio of 6 patents, and expects to double its workforce as a result of this investment.
Elisabet del Valle, co-founder and CEO of Onalabs, noted that the round is far more than a capital injection, representing recognition of years of research and development and the trust of a group of investors who share the company's vision for the future of health.
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