Magnetic Induction Spectroscopy (MIS) is a novel contactless impedance measurement technique with potential industrial and biomedical applications. We report measurements conducted on yeast suspensions at different concentrations ranging between 0 to 20 g/L to assess the system’s sensitivity and accuracy. Results show that the conductivity spectra measured has dielectric dispersion property and separability between different concentrations. This shows promising potential applications for cell biology research where contactless monitoring of cellular density is of relevance.