SoftBank's second Vision Fund has led a new US$165 million funding round in California-based Karius, which markets a test that can quickly detect hard to diagnose infections through a simple taking of blood, the start-up said on Monday.
Karius' test, which is already being used in more than 100 U.S. hospitals, turns liquid biopsy technology previously used chiefly to measure the progress of cancers to the detection of over 1,000 pathogens, including bacteria and fungi.The funding round values the company at over US$700 million, according to a filing made by the company to the state of Delaware, a copy of which was seen by Reuters. Karius said it was not disclosing valuation details at this time.
The Japanese technology giant earlier this month reported a second straight quarter of losses at its first Vision Fund, and Chief Executive Officer Masayoshi Son has said he has been forced to scale back the second fund.
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