Reshape Bio Raises $8 Million to Automate Experimental Tasks and Build New Infrastructure for Food, Agriculture and Microbial Research
Investment marks Denmark’s largest seed round, funding an integrated hardware and software platform to accelerate discovery, reduce errors and eliminate cumbersome manual experimentation
COPENHAGEN, Denmark, February 09, 2023--(BUSINESS WIRE)--Reshape Biotech, an integrated hardware and software platform digitizing microbiology experiments, today announced an $8.1 million investment, Denmark’s largest-ever seed round. The oversubscribed investment was led by ACME Capital, with participation from FundersClub, Y Combinator, Unity co-founder Nicholas Francis and Per Falholt. The capital will be used to expand Reshape’s product offerings and team. In addition, ACME Capital Partner, Christian Tang-Jespersen, joins Reshape’s Board of Directors.
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Reshape Biotech founders Carl-Emil Grøn Christensen, Magnus Madsen and Daniel Storgaard (Photo: Business Wire)
A member of the Y Combinator 2021 class, Reshape Biotech allows companies to easily digitize microbiology experiments and virtually collaborate on a global scale. Traditionally, lab automation has been extremely expensive and difficult to implement. Reshape is offering affordable robotic instruments by leveraging systems engineering, mechatronics, cloud computing, machine-learning based data analysis and deep understanding of biotech applications. Their robots are vertically integrated across hardware, software and microbiology to accurately capture data while eliminating redundant processes. Reshape currently serves 20 customers including researchers, scientists, lab techs and CXOs working in agricultural and food microbiology, ingredients development, industrial biotech and more. The power of its technology and service has resulted in 100% customer retention and 300% YoY growth.
"Biotech is the most important industry of the 21st century. For it to flourish in the future, we have to make the discovery process more accessible and affordable. Automation at scale is critical to making that a reality," said Reshape Biotech founder & CEO Carl-Emil Grøn. "We are ‘reshaping’ manual processes that have remained largely unchanged over the last 100 years. Our technology is helping R&D labs troubleshoot in real time with production sites located tens of thousand miles away and letting researchers check results from home, allowing remote work to prosper in lab environments. It’s an efficient approach that better fits the world we live in today."
The Reshape platform creates a new R&D infrastructure for leaders in food, agriculture and biology, enabling digitized research that can be shared to benefit scientists everywhere, regardless of physical lab location. The distributed platform with connected lab equipment empowers scientists and technicians to conduct research 1,000X more rapidly than today. Since 2021, Reshape has grown its robotic fleet from one to 110, experienced 10X revenue growth, and facilitated groundbreaking scientific breakthroughs.
"Digitizing laborious processes in research and development for food and biotech industries can lead to healthier societies for people and our planet," said Tang-Jespersen. "Reshape challenges the status quo of the last century of microbiology experimentation with a cost-efficient product that allows for much higher volume experiments, more meaningful data points and faster results. This technology has the potential to change the integrity of our food supply, biotech and more."
Headquartered in Copenhagen, Reshape currently distributes equipment across Europe and the U.S. In the near future, the company plans to open a location in North America and expand development, application science and sales efforts to scale its robotic fleet by 100x in the coming years.
About Reshape Biotech
Founded in 2018, Reshape Biotech is dedicated to helping leaders in food, agriculture and biology digitize research and collaborate globally through a new generation of lab equipment and infrastructure. Vertically integrating across hardware, software and biotech, with in-house development, manufacturing and application expertise. Reshape Biotech empowers scientists and technicians globally to do research a thousand times more rapidly than today. https://reshapebiotech.com/
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