Total amount raised
$33M
Latest funding date
2024-01-12
Location
Volta Labs has successfully raised $25 million over two funding rounds, with backing from top venture capital firms and Y Combinator. The company is focused on building the most advanced DNA sequencing sample preparation machine, aiming to revolutionize biological automation.
What Is Volta Labs?
Volta Labs, founded in 2018, is located in Kendall Square, Cambridge. The company was spun out of MIT and focuses on building advanced DNA sequencing sample preparation machines.
Co-founded by Udayan Umapathi and Will Langford, Volta Labs aims to solve the "sample prep bottleneck"in DNA sequencing. Their mission is to build biological automation from the ground up.
With a team of 11-50 employees, Volta Labs is in the growth stage, expanding its market presence and continuing to innovate in the field of genomics and synthetic biology.
How Much Funding Has Volta Labs Raised?
- Seed Round
- Amount Raised: Undisclosed (part of over $25M raised prior to and including Series A)
- Date: 2019
- Lead Investors: Maverick Ventures
- Motivation Behind the Round: Early-stage funding to support the development of Volta Labs' digital fluidics platform and foundational R&D in DNA sample preparation automation.
- Series A Round
- Amount Raised: $20 million
- Date: March 17, 2022
- Lead Investors: Maverick Ventures
- Motivation Behind the Round: To outline a manufacturing plan and build out commercialization capacity. The capital was used to develop a product strategy, build a commercialization team, and prepare for the commercial launch of their DNA sample prep instrument (Callisto) in 2023.
- Venture Round (Series Unknown)
- Amount Raised: Approximately $12.7 million (per Crunchbase; SEC Form D filed January 12, 2024 lists total offering of $9,000,001 with $4,260,001 sold at time of filing)
- Date: January 12, 2024
- Lead Investors: Undisclosed (4 accredited investors per SEC filing; investor names not publicly disclosed)
- Motivation Behind the Round: Continued growth capital to support commercial expansion of the Callisto Sample Preparation Platform and broader genomics product strategy.
Volta Labs has raised a total of at least $32.7 million based on disclosed funding across multiple rounds. Earlier seed funding amount is undisclosed; total including the seed round is cited as over $25M as of March 2022, with an additional ~$12.7M raised in January 2024.
Key Investors
- Maverick Ventures
- Details: Maverick Ventures is a venture capital firm that led both the Seed round and Series A for Volta Labs. Managing Partner David Singer has been closely involved with the company.
- Investment Focus Areas: Healthcare, technology, consumer
- Notable Investments: Not specified
- Y Combinator
- Details: Y Combinator is a startup accelerator that funded Volta Labs as part of the W19 batch. It has a reputation for nurturing some of the most successful startups globally.
- Investment Focus Areas: Technology, biotech, hardware
- Notable Investments: Dropbox, Airbnb, Stripe
- Khosla Ventures
- Details: Khosla Ventures is known for investing in transformative technologies. They participated in the Series A round for Volta Labs.
- Investment Focus Areas: Healthcare, sustainability, technology
- Notable Investments: Square, DoorDash, Impossible Foods
- Casdin Capital
- Details: Casdin Capital specializes in life sciences and healthcare investments. They were part of the Series A round for Volta Labs.
- Investment Focus Areas: Life sciences, healthcare
- Notable Investments: Not specified
- E14 Funds
- Details: E14 Funds focuses on startups emerging from MIT's media lab. They participated in the Series A round for Volta Labs.
- Investment Focus Areas: Technology, innovation, MIT startups
- Notable Investments: Not specified
What's Next for Volta Labs?
Volta Labs stands at the cusp of a significant opportunity in the rapidly evolving genomics industry. With the cost of genome sequencing plummeting, the need for efficient DNA sample preparation has never been more critical. Their innovative digital fluidics technology, which automates this process, positions them to address a major bottleneck in the field. Collaborations with companies in cancer care, neurological disorders, and synthetic biology further underscore the vast potential market.
As Volta Labs moves towards commercialization, future fundraising rounds will likely focus on scaling manufacturing and expanding their market reach. The recent $20 million Series A funding is a testament to investor confidence, and additional capital will be crucial for their growth. However, challenges remain, including proving the efficacy of their technology and competing with established players. Successfully navigating these hurdles will be key to their continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Volta Labs and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
