Every year one in ten people fall ill because of food-borne diseases. F&B industries are using a century old method to detect pathogens which requires a dedicated lab and take takes 5-10 days to get the results. This delay in microbial detection leads to hold-up of inventories, product recalls, disease outbreaks and even, loss of human lives. The company empowered industries to detect pathogens almost in real-time. Moreover, our device can detect multiple pathogens in a single test with the same gold-standard sensitivity and accuracy of the conventional lab tests. The company is fundamentally changing the way microbial detection is performed today. Our target customers include microbial testing in F&B, FMCG & water industries. Regulatory bodies like Singapore Food Agency which are responsible for maintaining food safety in a country also fall within our target market. Our vision is to be the world leaders in real-time microbial detection across industries and to contribute to a safe and healthier lifestyle, responsible & clean production and consumption of food.
Conventional method of microbial detection takes 5 to 10 days to get the results. Our revolutionary biosensor device detects pathogens in almost real-time without compromising on the gold standard sensitivity (1CFU/25g of sample) and accuracy of the conventional lab tests. Our product is divided into two components: a tabletop detector and disposable cartridges. The user only has to put the food sample in the disposable cartridge and insert the cartridge into the device. All the other steps are automatically carried out by the device. In the end, the user gets quantitative results for target pathogens. Unlike conventional methods, our device does not require a dedicated lab or trained professionals and can detect multiple pathogens in a single test. Moreover, the cost per test for our device is comparable to the cost per test via conventional methods.
Our technology can be applied across industries wherever there is a need of microbial detection including F&B, FMCG, Pharmaceutical, Healthcare, Oil & Gas and Agriculture. Our target market is microbial testing in water, F&B and FMCG and according to ‘markets and markets’, it is valued above $6 billion. Our target market also includes regulatories bodies whch are respnsible for maintaining food safety in a country. Our adjacent market is microbial diagnostics in healthcare and pharmaceutical industries, which is also over $6 billion (grand view research). Our target customers in this area would include hospitals and testing labs which require to detect pathogens in body fluids and pharmaceutical industries which require to test for pathogens in their product and parenteral drugs. It is important to note that these numbers only reflect the cost of consumables and do not include the cost of labor and logistics. The actual spending on microbial testing is several times (4-10X) higher than what is reflected by these numbers. The market is growing at a CAGR of 11% (2018-2022). The CAGR itself appears to be increasing at 1-2% annually in the recent years, likely due to the globalization of consumer goods, increasing incidences of disease outbreaks and the prevalence of antimicrobial resistance.
Our device would help customers detect pathogens in real time as opposed to 5-10 days taken by conventional methods and that too at the same cost as the conventional tests.