Bulgarian Start-Up Lab-Away eyeing Dubai Expansion

Business » INDUSTRY | December 17, 2024, Tuesday // 12:05
Bulgaria: Bulgarian Start-Up Lab-Away eyeing Dubai Expansion

At-home medical tests provider Lab-Away is preparing to launch operations in Dubai after closing a seed round of investment for an undisclosed amount. The round was closed in early October and the money will be used for purchasing a fleet EV vehicles, or “Lab-Mobiles”, as described by co-founder and CTO Pavlin Hristov.

Since we started back in November 2021, we have been primarily focused on selling highly reliable at-home tests for STDs (chlamydia, gonorrhea, syphilis, etc), vitamin D deficiency and reproductive issues. There are, however, more advanced tests that measure things like testosterone levels, estrogen levels as well as early signs for oncological diseases. These tests require very sophisticated and expensive equipment and technology that prevent people from testing at home. And since we always planned – since we started back in November 2021 – to one day offer the full Lab experience – at the safety and privacy of your home – the launch of our Lab-Mobiles is the logical next step in our journey”, shares Hristov.

According to Hristov, the company chose to test the Lab-Mobiles concept in Dubai because of the outstanding infrastructure of the city, favorable business and legal environment, highly diverse and talented pool of people, and relative proximity to Sofia. “It is very easy to set-up a legal entity, rent working space, and start operations in a matter of days. In our case – because we operate in a very regulated field and have to hire medical professionals, there will be a bit more paperwork but it is nothing in comparison to what we would be facing if we decided to opt for Berlin or Amsterdam. Dubai is ready for business and always seeking to attract the best people.”, adds Hristov.

Lab-Away made international headlines in early 2023 when it partnered with UNICEF to distribute STD tests to Sudan in an United Nations effort to curb the rapid surge of chlamydia and syphilis in the war-torn African country. The company also attempted a collaboration with the leading dating app Badoo to offer STD tests to Badoo subscribers directly within the app but that proved impossible from regulatory point of view. “I spent 6 weeks in the Badoo headquarters in London. We did phenomenal job, integrating and syncing everything together. We launched a limited pilot trial and had generated massive interest and excitement within the online dating community. But in the end we didn’t get regulatory clearance from the UK authorities. That wouldn’t have been an issue in Dubai”, shares Hristov.

Lab-Away will remain – as of now – headquartered in Sofia. According to Hristov, the company will still be primarily focused on selling at-home tests while testing other growth opportunities - “We are primarily selling within the EU so our EU pharmacy license is crucial. Our marketing department is based in Sofia and the IT department, which I am leading is also based in Sofia and It will stay here for now. Asked whether it would make sense to move the entire company and lead the IT department from Dubai – given the international pool of talent and high quality of life – Hristov says: “I personally do not fancy traveling. It only brings trouble and pressure. I missed both flights when traveling to London. It was a nightmare. And it did not happen for the first time. I decided to stay in one place and focus on work”

Industry » Be a reporter: Write and send your article
Tags: Lab-Away

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria