LabMinds announces $ 6.4 million oversubscribed funding round

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BOSTON–(COMMERCIAL THREAD) – LabMinds Inc., an award-winning laboratory automation robotics company, announced the closing of a third quarter funding round of $ 6.4 million. The funding round was carried out by the company’s main investors, including Waters Corporation and Red Deer Capital. This round also included funding from new investors. The funding will be used to drive the commercialization of its automated solution preparation system, develop new products and expand the team.

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

“We are delighted to announce the end of our oversubscribed funding cycle,” said Jeff Caputo, President and CEO and member of the Board of Directors of LabMinds. “We appreciate the continued support from our existing investors and welcome our new investors who share the enthusiasm around LabMinds as well as the market opportunity. Buffer solutions are used daily in laboratories, at all stages of drug development, all over the world. Automating the manual buffer preparation process means scientists can spend their valuable time developing life-saving drugs.

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