Series B22 February 2022

Automata secures £36.7m Series B funding led by Octopus Ventures to scale life sciences automation

The investment round was led by Octopus Ventures with participation from multiple returning and strategic backers.

£36.7MSeries B

Automata develops modular hardware and software automation platforms designed to modernise life science laboratories. Its technology helps researchers increase experiment throughput while reducing costs and error rates.

Automata has secured £36.7m in Series B financing to scale its laboratory automation platform for the life sciences sector. The round was led by Octopus Ventures, with participation from a group of returning backers including Hummingbird, Latitude Ventures, ABB Technology Ventures and Isomer Capital, alongside strategic investor In-Q-Tel.

The capital will support the expansion of Automata Labs in the United Kingdom and international markets, targeting scientists working in diagnostics, drug discovery and biotechnology. The company has experienced rapid growth following deployments in NHS pathology labs to help clear diagnostic backlogs.

Chief executive Mostafa ElSayed said the funding would support the next stage of the company's journey in delivering scalable automation solutions. Octopus Ventures principal Jess McCreadie noted that the firm's robotic capabilities provide a distinctive advantage in helping laboratories accelerate research output.

Investor perspective

"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 to 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."

Jess McCreadie

Principal, Healthtech, Octopus Ventures