Lightcast Discovery secures £38.5m Series B funding led by M Ventures
M Ventures led the Series B round to support the company ahead of its commercial launch.
Lightcast Discovery develops a novel single-cell functional analysis platform that uses light to manipulate droplet-based assays. The company is based in Cambridge, UK.
Lightcast Discovery has raised £38.5m in a Series B funding round led by M Ventures to accelerate its growth and commercial launch. Existing backers ARCH Venture Partners, Illumina Ventures, OMX Ventures, +ND Capital, and Longwall Ventures also participated in the financing. The capital will support the company as it scales operations ahead of introducing its single-cell analysis platform to the market, a push further reinforced by the appointment of Paul Steinberg as Chief Commercial Officer.
The firm advances single-cell functional analysis through a droplet-based platform that allows researchers to control and profile parallel assays with live cell recovery. Founded in 2019, the Cambridge-based company aims to streamline workflows for drug discovery and biological research. The latest injection of capital positions the business to scale its commercial efforts and meet growing demand for precise cellular profiling.
From the founder
"The power of single-cell analysis to uncover the complexities of biology has become increasingly evident, but much of the work still focuses on the transcriptome as the primary readout."
Paul Loeffen
CEO at Lightcast Discovery
Investor perspective
"Lightcast’s unique single-cell platform will be offering a completely unique experience in conducting complex experiments with ease, speed, and precision at an unmatched scale for basic and translational research as well as drug discovery. We continue to be impressed by the development of the organization and experience of the team to build a leading company in the single-cell analysis market. We’re happy to support Lightcast into the next stage of its development."
Christian Uhrich
Principal, M Ventures
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Christian Uhrich
M Ventures
ARCH Venture Partners
Illumina Ventures
OMX Ventures
+ND Capital
Longwall Ventures
Categories
About the company
Lightcast Discovery
Lightcast Discovery builds a novel single-cell functional analysis platform for life science research.