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Automata raises $50 million in funding to accelerate automation in life sciences

Scientists will be able to use the technology to shorten turnaround times and spend more time on analysis

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Automata funding and financing investment: scientist working in a lab

The US$50 million funding means significant development for Automata labs for scientists working in diagnostic, drug discovery and biotech.

The Automata investment round was led by Octopus Ventures were joined by investors Hummingbird, Latitude Ventures, ABB Technology Ventures, Isomer Capital as well as strategic investors such as In-Q-Tel.

Its technology will allow life scientists to shorten turnaround times by scaling capacities. It will also allow them to spend more time on analysis which will lead to cost reductions.

Automata labs funding

This Series B investment follows a period of rapid growth for Automata. Their systems have been successfully introduced by the NHS pathology labs to help them meet diagnostic backlogs and upscale capacity by scientists and clinicians

This Series B investment is on the back of rapid growth for Automata, whose focus on the life sciences has seen nearly a million tests conducted by scientists and clinicians in recent months. One lab has been able to run the software across 40 fully automated stations consistently.

Scientists who have used Automata Labs have reported that they can achieve consistently accurate results faster and on a larger scale. Automata is also advising and deploying automation with contract research organisations, research labs and leading blue-chip healthcare institutions.

Automata finance funding investment: A doctor using a screen

Mostafa ElSayed, Automata’s CEO said:

“I’m really excited at how this funding will take us on the next stage of our successful journey. At Automata we have always believed in the power of automation to support a variety of uses, especially when deployed at scale. We are thrilled to see our users adopt automation at a scale that transforms their ability to deliver more innovation in the life sciences to ultimately accelerate their pursuit of progress.

For far too long scientists and clinicians have been having to work with overly complex lab solutions: equipment and software are disjointed and difficult to orchestrate, while solutions are often too rigid and inappropriate for labs with small geographic footprints. Our next-generation technology solves this.”

Jess McCreadie, Principal, Healthtech at Octopus Ventures said:

“Automata’s robotic capabilities are truly the first of its kind and the company has combined this with deep expertise in automation and a highly effective business model which has created a leading edge over competitors. Automata Labs accelerates human ingenuity, empowering labs, and scientists, to achieve consistent results faster, on a greater scale, and ultimately upscale their ambitions.

We are delighted to have led this financing round as Automata represented exactly the type of highly innovative company we invest in and support. We are excited for Automata’s next steps, both within the life sciences industry, and beyond.”

Finance and investment

Automata is a London-based automation company that helps life sciences to innovate and diagnose. Their focus on life sciences has helped almost one million tests to be conducted by scientists and clinicians across the UK.

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