Lithuanian healthtech startup Revolab went bankrupt

 Lithuanian healthtech startup Revolab announced bankruptcy. According to the founder of the startup Ovidijus Kalinas, one of the reasons for closing the business is a lack of funding.

Founded in Vilnius in 2020 by Ovidijus Kalinas and Jekaterina Kaliniene, Revolab offered customers a home blood testing kit. The patients collected a finger-prick blood sample, shipped the sample to the startup's partner lab, and then received the result and health information based on artificial intelligence within 24 hours. The results were also backed by recommendations from general practitioners.

The startup offered more than 30 health tests including STD tests or enzyme markers to check the risk of cancer or other conditions, female hormones and testosterone tests, Covid-19 tests, and others. 

Revolab became a winner of the 2020 EIT Digital Venture Program (European Union incubator). In May 2021, the startup secured €300K from the Lithuanian health platform, which helps check employees' health conditions, Kilo Health.