September 23, 2021
Opentrons Labworks has announced a $200 million Series C investment round, led by SoftBank Vision Fund 2, with participation by Khosla Ventures. The company said it will use the new funds to further invest in its automated lab platform globally.
The platform uniquely integrates the development of lab robotics, assays, and operations to create high-quality and cost-effective solutions. The platform can provide several industry-specific lab solutions, including:
- Diagnostic lab services for health systems: with the Pandemic Response Lab subsidiary, the company uses the platform for its own subsidiary laboratories that provide molecular diagnostic testing, which have been used by hospitals and health systems for more than 4.5 million patient tests across the U.S. in the past year.
- Lab automation robotics for life science R&D: with the Opentrons Robotics business unit, the company sells affordable lab robotics to help life science R&D labs automate their operations. The flagship OT-2 robot is used by thousands of research organizations in more than 40 countries, the company said.
- Genome-scale cell engineering for biopharma: with the Neochromosome subsidiary, the company developed and deployed its biofoundry, uniquely capable of synthesizing genome-scale DNA constructs. LEveraging the collaboration of recent acquisition Zenith AI, the company is creating solutions for the discovery, development, and biomanufacturing of therapeutics.
“Opentrons is building a disruptive automated lab platform that is aiming to transform healthcare and life sciences with a vertically integrated, low-cost solution,” said Angela Du, investment director at SoftBank Investment Advisers. “The company has an extremely high value proposition in the lab diagnostics and synthetic genomics markets where its robotics and consumables serve as foundational components today. We look forward to partnering with CEO Jonathan Brennan-Badal to help the company accelerate growth and commercialize new offerings.
“Biology opens the door to solve many of humanity’s grand challenges,” said Brennan-Badal. “For far too long, scientists and clinicians have been locked in by slow, expensive and overly complex lab solutions that underpin their work. Opentrons’ platform provides the key to unlock their potential. We are enabling more R&D, more testing, more biology to unleash innovation in life sciences and healthcare.”
The company said the new round of funding will enable significant investment in the platform. It will also support development of new robotic tools, an expanded biofoundry, new diagnostic tests, and additional diagnostic labs.
For more details on the Opentrons Robotics business unit, visit their website here.