LabMinds Announces an Oversubscribed Funding Round Of $6.4M

BOSTON--(BUSINESS WIRE)--LabMinds Inc., an award-winning lab automation robotics company, announced it closed a $6.4M funding round in the third quarter. The funding round was completed by the company’s major investors including Waters Corporation and Red Deer Capital. This round also included funding from new investors. The funding will be used to drive commercialization of its automated solution preparation system, develop new products, and expand the team.

“The LabMinds story makes sense to us,” said Ron Coleman, Managing Director at Red Deer Capital, and LabMinds Board Member. “The Revo technology is solving a problem by automating a very manual process that wastes valuable time and resources. The positive customer feedback and validation regarding the Revo is clear. We are confident that Jeff and his team will continue to drive commercial expansion of this innovative technology and realize this sizeable opportunity.”

“We are thrilled to announce the completion of our oversubscribed funding round,” said Jeff Caputo, President & CEO, and Board Member of LabMinds. “We appreciate the continued support by our existing investors and welcome our new investors who share the excitement around LabMinds as well as the market opportunity. Buffer solutions are used in labs every day, in all stages of drug development, all over the world. Automating the manual process of preparing buffer solutions means that scientists can focus their valuable time on developing drugs that save lives.”