Atlanta, USA-based life science instruments company manufacturer of Resipher, Lucid Scientific raised USD 7 million in Series A. The company announced the fundraise on September 26, 2023. IAG Capital Partners led the financing for the company. In addition, Lucid’s original investor base, a public-private venture capital fund investing in research-driven, the Georgia Research Alliance’s Venture Fund, and growth equity and venture capital firm focused on life sciences industries, Dynamk Capital, joined in the Series A investment. So far, the total funding raised by the firm amounts to approximately USD 13 million.
As a part of the deal, IAG Venture Partner Dr. Ehsan Jabbarzadeh will join the company’s Board of Directors.
Purpose of financing for Lucid Scientific
With the latest financing, Lucid Scientific seeks to fund aggressively the expansion of its production, sales and marketing. In addition, it has plans to broaden new product advancements.
Besides, the recent investment propels exceptional momentum for Lucid and for their upcoming launch of new Resipher hardware and consumable products this fall.
Resipher provides researchers with valuable insights into cellular metabolism. The metabolism holds significant importance for a wide range of therapeutic applications and considerations for drug safety. Resipher converts standard cell culture plates into smart readers. It further detects and reports metabolic changes in real time. This data further fuels the cell culture research cycle by bridging the gap between performing experiments and gaining actionable insight.
What the company’s official has to add
Dr. Walker Inman, CEO of Lucid Scientific, said, “This financing enables Lucid to continue improving the Resipher line of products for researchers and drug discovery teams whose work directly impacts human health. We are excited to have Ehsan and IAG join our team, as they provide a wealth of experience and help position Lucid to achieve our goals.”
What does the lead investor have to comment
Dennis Sacha of IAG Capital Partners further added, “We are thrilled to partner with Lucid Scientific to market a ground-breaking technology for real-time analysis of cell metabolomics. The platform will provide scientists with a powerful tool to understand dynamic biological responses and the discovery of cures for most difficult diseases.”
The company, based in Charleston, South Carolina, partners with innovative leaders to build companies that will change the world.
About the company
Walker Inman in 2012 launched the company. It operates as a life science instruments company working to accelerate drug discovery and fundamental biological research by providing systems for real-time cellular analysis.
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