Wednesday, 7 August 2024, Bengaluru, India
Cellivate Technologies is a Bio-tech startup that raised $1 million in its ongoing seed funding round led by Antler. The funding round had the participation of the firm’s new and existing investors including Venture Catalysts, We Founder Circle, and Hatcher+. The startup plans to use these fresh proceeds to fuel its business growth, scale its operations, enhance its research & development, and expand in the market. This marks the second round of investment for the company since its inception.
The startup develops nanotechnology to study issues related to growing cells. The company provides innovative solutions to address challenges faced in bio-manufacturing and cell culture areas. The company also offers several flagship products including a serum based on novel cells to replace fetal bovine serum and advanced microcarriers for accelerating cell growth. The firm provides a product called ProCYTE, designed to improve adhesion and growth in cells. Cellivate Technologies claims to offer advanced micro-carriers and cell-based serum alternatives that reduce costs while addressing challenges in the cell culture process and improving efficiency. The startup aims to provide affordable and advanced solutions to improve biotechnology. The company previously secured $1 million during its seed funding round in 2023.
The company believes that the advancement in cell culture and biomanufacturing technologies will reduce the need for animal slaughtering since the products derived from animals can be generated through cells. The main focus of the startup is to use this investment to produce more innovative products and expand its operations. The Biotech startup provides cell-based serums and technologies to tackle the ethical challenges in cell culture. The firm aims to revolutionize healthcare and cell-related biotechnologies across the world and offer the best solutions. The investment shows the trust of investors in the startup’s market potential.
Cellivate Technologies plans to use some of its investment to expand its biotech research and advance cell-related technologies. The startup faces competition from other biotech companies including Nano3D Bioscience, Ribon Therapeutics, and Gristone Bio. Cellivate and its three competitors have raised a total fund of $4.55 million across three funding rounds from four investors. The development came just after the biotech startup saw increased interest from investors globally. The market research showed that the cell culture market is expected to grow and reach 33 billion USD in the next six years.
Conclusion:
Cellivate Technologies is a Singapore-based biotech startup that secured $1 million in its seed funding round. The funding round was led by Anthler with the participation of the firm’s new and existing investors including Hatcher+, Venture Catalysts, and We Founder Circle. The company intends to use this fresh capital to accelerate its product development, scale its operations, enhance its platform, and expand in the market. The company is working on creating innovative solutions to address the challenges in biomanufacturing and cell culture. The company also offers a flagship product called ProCYTE to enhance microcarriers and scale up cell growth. This marks the second funding round for the startup following its $1 million seed funding round in 2023.
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