Opentrons Announces $200 Million Series C Round Led by SoftBank Vision Fund 2
Funding is used to scale Opentrons’ automated lab platform for life sciences and healthcare
NEW YORK--(BUSINESS WIRE)-- Today Opentrons Labworks Inc. has announced SoftBank Vision Fund 2* has led the company’s $200 million Series C investment with participation by Khosla Ventures. Opentrons will use this fundraising round to further invest in its automated lab platform globally.
“Biology opens the door to solve many of humanity’s grand challenges. For far too long, scientists and clinicians have been locked-in by slow, expensive, and overly complex lab solutions that underpin their work,” said Jon Brennan-Badal, CEO of Opentrons. “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 lab platform uniquely integrates the development of lab robotics, assays, and operations to create high-quality and cost-effective end solutions. Opentrons uses this platform to provide the following industry-specific lab solutions:
- Diagnostic lab services for health systems: with the Pandemic Response Lab subsidiary, the company uses the platform for its own subsidiary laboratories that provide highly affordable and high-throughput molecular diagnostic testing. These testing lab services have been used by hospitals and health systems for over 4.5 million patient tests across the US 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. Opentrons’ flagship OT-2 robot is used by thousands of research organizations in more than 40 countries. Throughout the COVID-19 pandemic, OT-2 robots were deployed to hospital labs around the world to test millions of patient samples.
- 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 at unprecedented throughput. Leveraging the collaboration of recent acquisition, Zenith AI, the company is creating transformative 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.”
The Series C round will enable significant investment in the Opentrons platform. In particular, the investment will support development of new robotic tools, an expanded biofoundry, new diagnostic tests, and additional diagnostic labs. All of these initiatives will drive better, more affordable solutions for our life science and healthcare customers.
OPENTRONS ANNOUNCES KEY TEAM ADDITIONS TO SCALE PLATFORM:
- Myrtle Potter, Chair of the Board of Opentrons Labworks, Inc. Myrtle is currently CEO of Sumitovant. Formerly Roivant Sciences, Genentech, BMS, Merck.
- Greg Greeley, President and COO of Opentrons Labworks, Inc. Greg was previously President at Airbnb, the Vice-President of Amazon’s European business, and led Amazon’s Worldwide Prime Program. Greg will be joining the Opentrons Board of Directors.
- Robert S. Langer, Head of Scientific Advisory Board, Neochromosome, Inc. Institute Professor, Massachusetts Institute of Technology. Co-founder of Moderna.
- Jef Boeke, Head of Scientific Advisory Board of PRL, Sol and Judith Bergstein Director for the Institute of System Genetics, and Professor in the Department of Biochemistry and Molecular Pharmacology at NYU Langone. Co-founder of PRL and Neochromosome.
ABOUT OPENTRONS LABWORKS INC., SUBSIDIARIES & INVESTORS
- Opentrons Labworks Inc. Opentrons develops the integrated lab platform that serves life science and healthcare customers via the Opentrons Robotics, Pandemic Response Lab, and Neochromosome subsidiaries.
- Opentrons Robotics is a business unit of Opentrons Labworks Inc and is the industry leader in flexible, user-friendly lab automation. Opentrons Robotics flagship product, the OT-2, can be found in thousands of labs in more than 40 countries. These robots can be purchased at https://opentrons.com/
- Pandemic Response Lab (PRL) is the wholly-owned subsidiary of Opentrons Labworks Inc., that uses the platform to provide diagnostic lab services to health systems across the US. You can learn more about PRL’s diagnostic lab service offerings at https://pandemicresponselab.com/
- Neochromosome (Neo) is a wholly-owned subsidiary of Opentrons that was acquired in March 2021. Neo leverages the Opentrons platform to create genome-scale cell engineering solutions for therapeutics. You can learn more about Neo’s genome-scale cell engineering solutions at https://neochromosome.com/
- Zenith AI is a wholly-owned subsidiary of Opentrons that was acquired in June 2021. Zenith AI brings proprietary no-code AI and modern machine learning to the Opentrons platform. You can learn more about Zenith AI at https://www.zenify.ai/
- SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo. The Group primarily invests in companies operating in the technology, energy, and financial sectors.
- Other investors in Opentrons include Sands Capital, Lerer Hippeau Ventures, SOSV, and Y Combinator.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
Opentrons Press Team
Source: Opentrons Labworks Inc.