Applyo secures Series A financing

Robert Bosch Ventures, LBBW Ventures and Business Angel invest together with bm|t in the expansion of freeze-dried diagnostics technology.

Jena, May 2025 - The Jena-based medtech startup Applyo has raised new growth capital as part of a Series A financing round. In addition to existing investors Robert Bosch Venture Capital (Bosch Ventures) and LBBW Venture Capital, bm-t beteiligungsmanagement thüringen GmbH (bm|t) is now also investing in the company together with a private business angel. The financing is intended to enable further scaling of production, expansion of the diagnostics business and entry into pharmaceutical fields of application.

Freeze-dried "beads" replace sensitive reagent solutions

Applyo, founded in 2021, has developed a patented technology for freeze-drying reagents. The process transforms highly active biological components such as enzymes into contamination-free beads that can be fully reactivated if required. Applyo thus addresses a key challenge in point-of-care (POC) diagnostics: the need for a continuous cold chain and the short shelf life of conventional reagents.

Applyo's approach opens up new possibilities for point-of-care system providers to transport highly sensitive reagents and enzymes without a cold chain. This makes supply chains more efficient and sustainable.

Dr. Ingo Ramesohl, Managing Director Bosch Ventures

The use of freeze-dried beads completely eliminates the need for refrigeration, which not only facilitates storage and logistics, but also significantly extends product life. This has the potential for far-reaching savings in supply chains. It also opens up new application possibilities in the field, particularly where cooling is difficult to implement or not economically viable.

First products on the market, scaling underway

Applyo has already brought its technology to market maturity and launched commercial sales in mid-2023. According to the company, it was able to acquire its first customers in a short space of time and is currently in further talks with international distributors. The start-up has also established a scalable production process that, according to its own information, is significantly above industry standards in terms of process reliability and product quality.

The experienced team of founders brings in-depth knowledge of molecular biology and successful positions at market leaders such as Alere and Abbott. Applyo stands for innovative strength from Thuringia and fits perfectly into the strong biotech ecosystem around Jena.

Katja Butzmann, Managing Director of bm|t

Two closing phases to complete Series A

The Series A financing round was completed in two stages. Robert Bosch Ventures and LBBW Ventures were involved in the first closing. In the second step, bm|t and a private business angel joined in. bm|t sees Applyo as a future-oriented investment with technological depth and growth potential.

Growth market POC diagnostics and lyophilization

The global market for point-of-care diagnostics has grown strongly in recent years, not least due to the COVID-19 pandemic, which has brought decentralized testing solutions in emergency rooms and care facilities into focus. At the same time, the market for freeze-drying (lyophilization) of pharmaceutical and biotechnological products is growing steadily. According to market analyses, the volume in 2023 was around USD 6 billion - with expected annual growth rates of around 8% until 2028.

Applyo is strategically positioned at the interface of these two future markets. In addition to its use in rapid diagnostic tests, its use in pharmaceutical formulations is also conceivable in the future, for example to stabilize vaccines or individualized therapies.