Measurlabs, headquartered in Helsinki, has just secured €2.5M in seed funding. The company offers laboratory analysis and testing services, catering to researchers, quality assurance experts, and R&D professionals.
VentureFriends led the funding round, with participation from existing investors including Lifeline Ventures, Tesi, and Curus.
Apostolos Apostolakis, a partner at VentureFriends, expressed excitement about joining Measurlabs on their journey to enhance laboratory testing services management, reduce costs, and expedite product time-to-market. He noted that the team is addressing a growing demand for modern testing services, particularly in the face of increasing regulations and customer safety requirements.
Streamlining Measurements: Everything from a Single Source
Established in 2017 by Teemu Myllymäki and Kalle Lagerblom, Measurlabs operates as an online platform with a clear-cut mission: to simplify the intricate testing and analysis process for product developers, quality controllers, and researchers.
According to Myllymäki, “Identifying a testing services provider capable of performing the necessary tests and providing expert guidance can be an arduous task.”
He further elucidates, “The process of soliciting quotes from multiple laboratories, grappling with poor communication, or enduring delays in receiving results not only hampers product development and quality management but also wastes time and money, disrupting project workflows.”
Enter Measurlabs, designed to be a game-changer in this regard. The company has assembled a network of over 900 laboratories, offering companies access to a comprehensive array of testing services under one roof.
Measurlabs is committed to helping users economize both time and money by providing all-encompassing testing solutions, expert assistance, and the potential for cost savings on analyses.
Having initially made strides in Finland, the company has expanded its footprint globally, catering to customers in nearly 40 countries. Its client roster includes industry leaders in sustainability such as Sulapac, Woodio, and Kone.
Myllymäki underscores, “Our clients are prominent enterprises that have expressed their enthusiasm for finally discovering a convenient solution for their critical testing and analysis requirements. Measurlabs’ diverse testing methods, digital procurement platform, and access to top experts in various testing fields have garnered specific praise from our clients.”
Funding Usage
Measurlabs has outlined its intentions for the newly secured funds, which involve scaling its operations throughout Europe and refining its logistics and procurement platform. The company is set to expand its footprint, with the United Kingdom being its initial target, where it intends to establish local teams.
Furthermore, Measurlabs is directing its efforts towards enhancing its online platform. This involves the implementation of in-platform payment solutions, a move aimed at elevating user convenience and fostering further growth.
