NEW YORK (360Dx) – Male fertility testing firm Sandstone Diagnostics today announced it has raised $5.8 million in Series A-1 financing, which includes the conversion of notes.
Astia Angels and Hund Holdings, along with a consortium of investors, including DPW Holdings, led the financing round. Divine Capital Markets acted as financial officer to Sandstone.
The funding will go toward growing the company's sales and further developing its US Food and Drug Administration-cleared Trak Male Fertility Testing System. According to Sandstone's website, the test works by placing a few drops of sample on the test. A device called the Trak Engine then uses centrifugal force to isolate and quantify sperm cells, and a read-out tells the user his sperm count based on three levels — low, moderate, and optimal.
A Trak mobile app also provides information about lifestyle data, and using a proprietary algorithm, gives feedback on how health and habits affect men's fertility, Sandstone said.
Based in Livermore, California, Sandstone was founded in 2012 and launched the Trak system last year.