Measurlabs – Transforming global laboratory testing markets

Why?

The global market for laboratory analyses and testing services is vast, yet it remains traditional, highly fragmented and largely undigitalised. Testing is needed by almost every company that manufactures materials or physical products, from product development to ongoing quality control. However, procurement of testing services is slow and manual, which creates unnecessary work for companies buying laboratory services.

What and how?

Measurlabs brings all the laboratory analyses its customers need under one roof. The analyses are carried out at the company’s accredited partner laboratories. The core idea is to remove the friction from testing. If a company wants to test an invention, for example, it no longer has to search the world for suitable laboratories, sign dozens of non-disclosure agreements with different providers or learn to interpret varying report formats.

Measurlabs’ competitive advantage lies in its extensive laboratory network. Although it competes with the industry giants for the same customers, those same giants can also act as Measurlabs’ partners for individual tests. Thanks to automation and volume discounts, the company can often offer its customers the same laboratory services at a lower price than they have been used to.

Growth and internationalisation

For its first two years, Measurlabs was funded by revenue, but the founders had a vision of an international success story from the start. In 2021, Measurlabs received its first external funding and began to grow rapidly. At that point, the company’s revenue was EUR 350,000, and the following year it grew to EUR 750,000.

Measurlabs now has 46 employees, and more than half of its revenue of approximately EUR 5.5 million comes from outside Finland. The company has customers in more than 75 countries, and its largest target markets include the United States, the United Kingdom and Germany. The next step in its growth is to build international sales teams, first in Europe and later beyond.

The most important target group for the company’s growth is businesses with revenues of EUR 10–100 million that need laboratory services but whose procurement chains are not yet too rigid to switch suppliers.

The importance of venture capital

In autumn 2023, the company raised a EUR 2.5 million seed round led by VentureFriends, with existing investors Lifeline Ventures, Curus and Tesi also participating. The funding enabled Measurlabs to automate its internal processes, build the software that runs its operations and begin its internationalisation.

In growing sectors such as the development of semiconductors and other innovative materials, access to laboratory analyses and expert services is essential for smooth product development and for bringing new products to market. Measurlabs’ growth prospects and ability to create value are therefore excellent, which laid the foundation for Tesi’s investment decision.

General information

Measurlabs’ story began in a laboratory of doctoral researchers. The company’s founders, Teemu Myllymäki and Kalle Lagerblom, found it difficult to get the analyses they needed from commercial laboratories. When a suitable laboratory was finally found, they wrote it down. In 2019, the duo took the leap into full-time entrepreneurship to tackle the difficulty of buying testing services.

Today, Measurlabs’ business is divided into five units: semiconductors; pharmaceuticals and medical devices; construction materials; food and packaging; and chemicals and environmental analytics. The company serves its customers at the stages of product development, bringing a new product to market and ongoing testing of products already on the market.

In September 2026, Measurlabs ranked 70th on the startup media outlet Sifted’s list of the 100 fastest-growing companies in the Nordics.