Shilps Sciences, a Bengaluru based Biotech startup has announced closing a Pre-series A financing round today (09.11.2020), led by AngelList, with participation from existing investors. The amount of investment raised was undisclosed by the startup. The company had received grant support from the Department of Biotechnology and equity investments from the Indian government’s Center for Cellular and Molecular Platforms.
Companies working in the biotechnology field have been attracting angel investors and venture funding as the need for more research and development increases. Shilps Sciences develops instruments that help in manipulating and probing cells at the individual level. These products bring together the best from nanotechnology, microfluidics and life sciences. The global market for cell analysis was an estimated US$ 16 billion last year and is expected to reach US$ 22.7 billion by 2024, according to their statement.
What the founder has to say
Ashwin Lal, founder and CEO of Shilps Sciences, said that the fresh funding will help the company accelerate its biology application development on its platform and expand its presence in the US.
Lal, who is an alumnus of IIT Kanpur, also added that the company is engaging with key opinion leaders and early access partners in the biotech field.
About Shilps Sciences
Shilps Sciences was founded in 2014 by Ashwin Lal, who has a PhD in Microtechnology from École Polytechnique Fédérale de Lausanne, Switzerland and over two decades of experience in nanotechnology. The company’s ‘nano-bioreactors on a chip’ technology helps clients analyse single cells for various therapeutic purposes, including antibody production and T-Cell therapy that can be used for cancer treatment. The startup’s product application focus areas are the discovery of antibodies, development of cell lines and gene editing.
Shilps Sciences has a mission to drive quick and affordable discovery in the Life Sciences industry by bringing pioneering technology innovations. It has a platform called Dexter Microfluidics that commercialises a Lab-on-Chip solution that deploys workflows and processes for the biotechnology industry to speed-up the design, discovery, development, and delivery of cell-based products. Their workflows automate the manipulation, analysis, and selection of single cells.
AngelList is a platform for startups, where one can invest in startups, research the fastest-growing companies, and find a job in particular startups. Its AngelList Ventures division has over US$1 billion deployed alongside leading venture fund managers. Founded in 2010 by Babak Nivi, Jason Randolph and Naval Ravikant, it has its headquarters in San Francisco, USA.
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