Panamax Capital and Magstar Capital assist RICOVR in raising $1.5 million Pre-Series A Round

PRINCETON, NJ, USA, July 30, 2021 /EINPresswire.com/ — RICOVR Healthcare, creator of the XALIVA rapid diagnostics platform announced in April 2021 that it has raised $1.5 million Pre-Series A round to
commercialize its point-of-care testing device for THC and COVID-19.

RICOVR has now raised a total of $3.0 million. The new funding was led by Achari Ventures, with
participation from Halley Venture Partners and strategic investors. The prior $1.1 million Seed round in
December 2020 was led by Halley Venture Partners.

Piyush Sadana, COO and Co-Founder of RICOVR said, “We are fortunate to have the support of our
investors and trusted financial advisors, Panamax and Magstar who assisted and introduced the lead
investors for both rounds, as we look to continue to grow the company and scale RICOVR’s unique
technology.”

About RICOVR
RICOVR Healthcare is the creator of the XALIVA rapid diagnostics platform that provides high-quality,
rapid diagnostics results using a small amount of saliva. Company’s product pipeline includes rapid
point-of-care tests for Covid-19, THC & drugs-of-abuse, and infectious diseases. The Company boasts a
distinguished advisory board and management team of scientists and engineers committed to making a positive impact on society.

About Panamax Capital

Panamax provides capital raising,M&A, and strategic advisory services to small to medium-sized
enterprises (SMEs), investors, and acquirers. Focus on Technology/Impact Investing enabled companies
in the Consumer, Finance, F&B, Health & Life Sciences, Logistics/Transportation, Natural Resources, Real
Estate, and Technology sectors. Greenwich, CT based with resources in the Americas, Asia, India, and
Ireland. Broker/Dealer services provided by PartnerCap Securities, LLC, Member FINRA / SIPC.

About Magstar Capital
Magstar Capital is an investment banking firm that provides strategic buy-side and sell-side M&A, capital raising, and corporate advisory services to companies and private equity, venture capital, and family office investors across a variety of sectors, including Banking, Specialty Finance, FinTech, Health/Wellness/MedTech, Food & Beverage, Logistics, Sports and Entertainment, Asset Management, Real Estate, and Technology and Media. The firm’s principals have been involved in over 150 M&A and capital raising assignments, representing an aggregate transaction value over $15 billion. Magstar is based in New York, with additional offices in Chicago, Austin, Aspen, and Miami. Magstar is a Member, FINRA/SIPC.

For further information on RICOVR, please visit www.ricovr.com.

For more information on these transactions please contact:

Panamax Capital
Tom Blinten
(203) 979-4041
tblinten@panamaxcapital.com

Magstar Capital
David Magli
(914) 937-7583
dmagli@magstarcapital.com

RICOVR
Piyush Sadana
(609) 375-8379
info@ricovr.com

Kyle Muse
Ricovr Healthcare
+1 609-375-8379
email us here

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