The round was led by J2 Ventures with participation from 8VC and Praxis. The funding will help drive the growth of the company's on-demand design and manufacturing platform, expand its hardware and software solutions, and commercialize its new product, MV-2.

Parallel Fluidics accelerates the pace of discovery for scientific teams with the world's first on-demand microfluidic manufacturing service. By offering production-grade devices from day one, Parallel eliminates the risks that slow down development and provides the shortest path from a concept to a successful microfluidic product. Parallel Fluidics is already making a transformative impact across life sciences verticals such as diagnostics, drug discovery, precision medicine, sequencing, and cell therapy - empowering innovators to accelerate breakthroughs and improve patient outcomes.