Chipcare explains why its blood-testing technology is not the next Theranos


Just a few days ago, an academic study about Theranos, a Silicon Valley-based blood testing company that lets users test with a prick of a finger, found that its tests may not be as accurate as the company claimed. The company is currently valued at $9 billion.

In light of this, The Disruptors feature interview with Toronto-based Chipcare is particularly interesting. The company closed $5 million in series A financing last year, and develops a handheld cell organizer based on mobile technology, allowing patients to test for multiple diseases with a drop of blood.

“We’re not using Star Trek technology. Our play is a miniaturization play, so we’re taking 30-year-old technology that’s robust and used for decades and well-characterized, and we’re able to put it on cartridge,” said CEO James Fraser. “Can we do every test with the amount of blood that we can pull off a finger stick? I’m not gonna guarantee anything, but a lot of the ones we’re testing in the beginning, for sure we can.”

The company is currently look to raise $9 million in its Series B round, and is almost halfway there. “We have a pretty extreme burn rate, which has to do with the fact that we’re starting to scale manufacturing, which takes a lot of money.”

Watch the interview — where Fraser talks about targeting rural communities — below:

BetaKit is a production partner on The Disruptors. Tune in to BNN every Thursday night at 7pm for full episodes!

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to