Total amount raised
$355 Millions
Latest funding date
08/01/2023
Location
Cellares has successfully raised funding through multiple rounds, with the latest being a Series C round. The company has secured a substantial $380 million deal with Bristol Myers Squibb, indicating strong financial backing.
Keep reading to explore the intricacies of Cellares' fundraising journey and the investors backing this innovative platform.
What Is Cellares?
Cellares, founded in 2019, is a life sciences technology company based in South San Francisco, California. The company was established by Alex Pesch, Fabian Gerlinghaus, and Omar Kurdi.
Specializing in cell therapy manufacturing, Cellares develops the Cell Shuttle, an automated solution designed to make life-saving therapies more accessible. Their innovative technology offers significant scalability and cost reductions.
With a team of 101-250 employees, Cellares continues to advance its mission of accelerating access to cell therapies through integrated manufacturing solutions.
How Much Funding Has Cellares Raised?
- Series A
- Amount Raised: $18M
- Date: October 2020
- Lead Investors: Eclipse Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and scale the Cell Shuttle technology for automated cell therapy manufacturing.
- Series B
- Amount Raised: $82M
- Date: May 2021
- Lead Investors: Decheng Capital, Eclipse Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing capabilities and advance clinical applications of cell therapies.
- Series C
- Amount Raised: $255M
- Date: August 2023
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the first Integrated Development and Manufacturing Organization (IDMO) and expand global manufacturing capabilities.
Total Amount Raised: $355M. Current Valuation: Not publicly disclosed.
Key Investors
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies is a subsidiary of Koch Industries focused on investing in high-growth companies that are innovating and transforming industries. David Mauney, Managing Director, will join Cellares' board of directors.
- Investment Focus Areas: Transformative technologies, high-growth companies, industry transformation.
- Notable Investments: Desktop Metal, INSIGHTEC, Kinsa.
- Bristol Myers Squibb
- Details: Bristol Myers Squibb is a global biopharmaceutical company dedicated to discovering, developing, and delivering innovative medicines that help patients prevail over serious diseases. They are a leader in cell therapy.
- Investment Focus Areas: Biopharmaceuticals, innovative medicines, cell therapy.
- Notable Investments: Numerous biopharmaceutical innovations and cell therapies.
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that invests in high-growth technology companies. They have a history of backing transformative tech startups.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: SpaceX, Tesla, Box.
- Willett Advisors
- Details: Willett Advisors is an investment management firm that handles the philanthropic assets of Michael Bloomberg. They manage a diverse portfolio across various sectors.
- Investment Focus Areas: Philanthropic assets, diverse investment strategies.
- Notable Investments: Various sectors including technology and healthcare.
- Eclipse Ventures
- Details: Eclipse Ventures is a venture capital firm that invests in early-stage and growth-stage technology companies. They focus on the digital transformation of physical industries.
- Investment Focus Areas: Early-stage technology companies, digital transformation of physical industries.
- Notable Investments: Owlet, Augury, ClearMetal.
What's Next for Cellares?
With the recent $255 million Series C funding, Cellares is poised to revolutionize the cell therapy manufacturing landscape. The launch of their first Integrated Development and Manufacturing Organization (IDMO) Smart Factory in Bridgewater, NJ, marks a significant step forward. This facility, capable of producing 40,000 cell therapy batches annually, represents a tenfold increase in productivity over traditional methods. The company plans to expand its Smart Factories to Europe by 2024, leveraging advanced robotics and interconnected software to meet the growing global demand for life-saving therapies.
Future fundraising opportunities appear promising, with potential for additional late-stage funding rounds and strategic partnerships. The involvement of high-profile investors like Koch Disruptive Technologies and Bristol Myers Squibb underscores strong investor confidence. As Cellares continues to demonstrate growth and innovation, an initial public offering (IPO) could also be on the horizon.
However, challenges remain. Navigating regulatory approvals, maintaining quality and consistency while scaling up, and competing with established players in the biotech sector are significant hurdles. Yet, with a clear vision and robust financial backing, Cellares is well-positioned to overcome these obstacles and lead the charge in transforming cell therapy manufacturing.
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