Automata raises US$50 Million
Automata raises US$50 Million in Series B financing to accelerate automation in Life Sciences
Automata – the automation company helping life sciences rapidly innovate, diagnose and discover at scale – today announces it has raised US$50 million in Series B funding. The investment round was led by Octopus Ventures with participation from returning investors Hummingbird, Latitude Ventures, ABB Technology Ventures, Isomer Capital as well as strategic investors such as In-Q-Tel, amongst others.
This investment will enable significant development, in the UK and beyond, of Automata Labs for scientists working across diagnostics, drug discovery and biotech. With this technology, life scientists can shorten turnaround times by scaling capacities, and spend more time on their analyses – which also leads to cost reductions.
This Series B investment is on the back of rapid growth for Automata, whose focus on the life sciences has seen nearly a million tests conducted by scientists and clinicians in recent months. Automata’s systems have been successfully utilised by NHS pathology labs to help them meet diagnostic backlogs and upscale capacity, with one of these labs running 40 fully automated stations 24/7. Scientists who have used Automata Labs report that they are able to achieve consistently accurate results faster, and on a larger scale, than before. Automata is also currently advising and deploying automation with contract research organisations, research labs and leading blue chip healthcare institutions.