After announcing partnership with Y Combinator recently, robot operated biolab startup Transcriptic has raised $8.5 million in series A round led by Data Collective with participation from IA Ventures, AME Cloud Ventures, Silicon Valley Bank, 500 Startups, MITS Fund, Y Combinator, Paul Buchheit, and a bunch of other angels. Till date, the firm had raised a total capital of $14 million, including the latest round.
It is the only cloud-based robotic bio lab in operation, and is still in testing phase. The team is into designing and building the robots to run its automated lab.
Last month, the firm had released a new way to launch protocols via the web, an easier way to buy commercial kits directly through user Transcriptic account, split off its protocol language, Autoprotocol, into an open-source project, and completely overhauled its documentation in addition to adding hundreds of minor features and bugfixes throughout the Transcriptic experience. it has almost 30 people and have lab ops running around the clock on most days.
“When we started Transcriptic, we set out with the goal of giving the life sciences the same structural advantages that web has enjoyed, making it possible for two postdocs with a laptop in a coffee shop to run a drug company without the need for millions of dollars in capital equipment or lab space,” founder Max Hodak wrote in its Blog Post.Category Business Investments