LabMinds Announces Fully Subscribed Funding
BOSTON, MA, LabMinds has closed a fully subscribed funding round from a mix of private and strategic investors.
LabMinds, an award-winning robotics company in life sciences, today announced it has closed a fully subscribed funding round from a mix of private and strategic investors. The round was closed at a 20% higher share price than the funding round completed in 2019, reflecting the substantial progress the company has made. This funding will help drive commercialization of its automation system as well as facilitate the expansion of LabMinds' product portfolio.
"We are pleased to announce the completion of a fully subscribed funding round," said Jeff Caputo, President & CEO of LabMinds, Inc. "We appreciate the support and excitement by our existing and new investors. Not only do they recognize the large market opportunity for this innovative technology, they also acknowledge the considerable value it brings to the drug development process especially during these challenging times. Our REVO automation system ensures reliability, traceability and consistency which are critical for solution preparation."
"Our team at LabMinds continues to build traction within the bio-pharma world, with multiple large customers moving toward using The REVO platform to standardize processes," said John Kawola, Chairman of the Board, LabMinds. "Automation in solution preparation has been lacking. The REVO fills this gap and accelerates drug development while saving time and money for our customers. The Board and Investors are excited to continue to support the Company's growth."
LabMinds' customers have been taking full advantage of The REVO and its automation capabilities to help with rapid COVID-19 drug discovery and development as well as facilitate remote operations.
LabMinds is the leader in AI and robotics for solution preparation in pharmaceutical and life science labs. A cornerstone of R&D and QA/QC processes, solution preparation continues to be a highly manual process with many moving parts, exposing labs to considerable risk and inevitable waste. LabMinds' platform addresses these challenges with powerful AI software combined with state-of-the-art robotics to safeguard against tainted inputs, enable near-perfect accuracy, and attain unmatched control. Further, labs in the LabMinds network contribute to, and benefit from, the collection of input and sensor data throughout the solution prep process; it's never been easier to gain detailed insight into how chemicals interact with each other. By implementing more security and order, and leveraging the power of big data, LabMinds moves ever closer to achieving its mission to enable scientists and businesses to build and optimize labs, to bring meaningful therapies to market sooner. For more information, please visit www.LabMinds.com.
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