LabMinds raises $6.4M to help life sciences and pharmaceuticals in drug discovery process using AI and robotics

LabMinds is a life science startup founded over a decade with the simple idea of helping scientists around the world automate their most ubiquitous processes in laboratories. LabMinds founders later pitched the idea a few months later and went on to win the entrepreneurial idea competition at the University of Oxford. In 2018, LabMinds was born.

Fast forward to today, the company is now based in Boston, MA and Oxford, UK, have Systems in North America and Europe, including at many of the Top Pharma companies around the World. Today, LabMinds is the leader in AI and robotics for solution preparation in pharmaceutical and life science labs. LabMinds co-founders include Camilla Oxley, Jochen W. Klingelhoefer, and Ville Lehtonen.

Unknown to many, the cornerstone to R&D and QA/QC processes is solution preparation. However, the process continues to be a highly manual process with many moving parts, thereby exposing labs to considerable risk and inevitable waste.

That’s where LabMinds comes in. LabMinds’ platform addresses these challenges by using AI software combined with state-of-the-art robotics to safeguard against tainted inputs, enable near-perfect accuracy, and attain unmatched control. LabMinds also automates the entire process at all scales and stages, from discovery to late-stage QC and from the newest startup to the biggest production facility.

LabMinds’ flagship product, REVO robotic system, helps with solution preparation systems using robotics, artificial intelligence, and machine learning. In June of last year, LabMinds secured fresh funds from a mix of private and strategic investors to commercialize its REVO robotic system and also expand its product portfolio.

To further drive the commercialization of its automated solution preparation system, LabMinds announced today it has closed a $6.4M funding round in the third quarter. The investment for this round came from the company’s major investors including Waters Corporation and Red Deer Capital.  LabMinds will also use the funding proceeds to develop new products and expand the team.

In a statement, Jeff Caputo, President & CEO, and Board Member of LabMinds said, “We are thrilled to announce the completion of our oversubscribed funding round. We appreciate the continued support by our existing investors and welcome our new investors who share the excitement around LabMinds as well as the market opportunity.”

Caputo added, “Buffer solutions are used in labs every day, in all stages of drug development, all over the world. Automating the manual process of preparing buffer solutions means that scientists can focus their valuable time on developing drugs that save lives.”

Today, labs in the LabMinds network contribute to, and benefit from, the collection of input and sensor data throughout the solution prep process; it’s never been easier to gain detailed insight into how chemicals interact with each other. By implementing more security and order, and leveraging the power of big data, LabMinds is moving ever closer to achieving its mission to enable scientists and businesses to build and optimize labs, in order to bring meaningful therapies to market sooner.

“The LabMinds story makes sense to us,” said Ron Coleman, Managing Director at Red Deer Capital, and LabMinds Board Member. “The Revo technology is solving a problem by automating a very manual process that wastes valuable time and resources. The positive customer feedback and validation regarding Revo is clear. We are confident that Jeff and his team will continue to drive the commercial expansion of this innovative technology and realize this sizeable opportunity.”