Lithuanian biotech Atrandi Biosciences raises €4.5M in Series A funding
29 March, 2023, 12:37
Vilnius-based emerging biotech startup Atrandi Biosciences has raised a €4.5 million Series A investment led by Vsquared Ventures. The round was also completed by Practica Capital and Metaplanet.
- Founded in 2016 by Linas Mazutis, Atrandi Biosciences is an emerging developer and provider of innovative microfluidic solutions for the life sciences. These microfluidic solutions can provide researchers around the world with the tools and support to accelerate scientific discovery and innovation, like the study of blood, tumors, pathogens, and engineered cell lines.
- Although, there are limitations to this technology like high cost, limited applicability to different workflow types, and a limited number of single-cell data points analyzed. Atrandi, with its proprietary semi-permeable capsule technology, delivers a next-generation platform that overcomes all these bottlenecks.
“Atrandi’s breakthrough technology will not only disrupt the existing multibillion-dollar liquid handling market but open up entirely new applications, from personalized oncology to cell-therapy research. In doing so, Atrandi can build on its well-oiled commercial business and the decades of experience of a team of top scientists. We are excited to support the innovators at Atrandi in the next phase of their evolution as they expand their global presence into the U.S,”Lise Rechsteiner, General Partner of Vsquared Ventures, comments.
- Vsquared Ventures is the lead investor in this round. Practica Capital and Metaplanet completed the investment. Practica Capital is a dedicated Baltic VC focusing on investments in the Baltic and Baltic-origin ventures in Europe. In December 2022, the fund launched a new €70 million fund. And Metaplanet is an early-stage investment firm that invests in diversified sectors.
- Atrandi will use the fresh capital to establish a direct team to support customers in the US and advance the global commercialization of its breakthrough microfluidic and single-cell analysis technologies.