Bionaut Labs gets $43.2M for its tiny drug delivery robots. A California startup has secured a $43.2 million investment in its software and technology that allows scientists to test drugs in the lab at an accelerated rate and complete pharmaceutical studies more quickly. Bionaut Labs, which is based in Silicon Valley, was co-founded by Stanford chemistry professor Pierre Azoulay, who is also chairman of the company’s board of directors.
The funding is part of a round led by Foundation Capital with participation from other investors like Google Ventures and Sarepta Therapeutics. “This is a very exciting time for Bionaut Labs and our founders,” said Azoulay. “The rapid expansion of our capabilities in the last several years has significantly accelerated the pace at which we provide new services to our customers and provide these opportunities to innovation towards assisting in the development of novel therapeutics that are urgently needed by the scientific community.”
In May, Bionaut Labs team announced that it had raised $3.2 million from investors including Prana Capital and Foundation Capital. The funding will be used mainly for hiring and marketing, according to the company. This year, Bionaut Labs won one of three “Most Promising Companies” awards from VentureBeat .
Bionaut Labs is a software company that provides services to pharmaceutical and biotech companies. The startup’s main products are Bionaut, which is a drug-development platform that automates lab-data processing, and the Bionaut Analytics Lab (BAL), which provides an analytics engine to design experiments that bring drug candidates closer to FDA approval.
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