In full transparency, the following is a press release submitted to SOURCE media through its business wire service.
MARLBOROUGH – Marlborough-based Scitara Corp., announces the closing of its Series B round with an additional investment of $15 million.
Led by existing investor Northpond Ventures, with participation from Flybridge Capital and experienced financial advisors to the biopharma and life science tools industry, the funding will springboard Scitara’s ambitious growth plans for 2022 and beyond to solve the laboratory data integration challenge.
Scitara’s growth has been fuelled by the introduction of its industry leading category Scientific Integration Platform™ SIP™, a cloud native infrastructure that allows scientific laboratories to realize the full benefits of digital transformation. The Scitara SIP dramatically accelerates science by facilitating a modern, fully connected laboratory with data standardization, data mobility, flexibility and adaptability to a dynamic laboratory ecosystem.
Commenting on the Series B funding, founder and CEO of Scitara, Ajit Nagral, said: “This significant investment underlines the value of our offer to the global scientific community. Since the start of the pandemic, the global spotlight on science has never been sharper. As life science and pharma industries come under monumental pressure to deliver breakthroughs at accelerated speeds, the importance of accurate data custodianship in real time has never been more critical. Science is looking to technology to help digitize its processes and unlock the full potential of its data.
“Scientists need timely and seamless access to cross-functional data to advance their science. Scitara SIP integrates scientific data across the enterprise, and in tandem with artificial intelligence (AI) and analytics tools, scientists are provided new insights to drive faster decision making, and information to help accelerate products to market. Consequently, the market demand for Scitara SIP has been unprecedented.
“Scitara SIP powered by our Digital Lab Exchange™ DLX™ platform brings a breakthrough level of laboratory automation and is designed to fully comply with the most stringent requirements of regulated markets.”
Andrea Jackson, Northpond Ventures Director and Scitara Board Director added: “How scientific data flows in research and development is critical to accelerating life-saving therapies to market. Scitara’s platform enables seamless integration of data across lab workflows and operations. We are keenly supportive of Ajit and his team who are positioned to drive meaningful transformation of scientific data.”
Chip Hazard, General Partner at Flybridge commented on the deal: “With an impressive list of strategic partners that include leading instrument, informatics, and global service organizations, and a growing list of diverse customers, including some of the world’s largest pharmaceutical companies, vaccine manufacturers, and cutting-edge biotechnology players, Scitara is leading the next generation of digital transformation in the lab. This aligns perfectly with our portfolio of technology investments that are driving industry forward.”
Scitara will use the Series B funding to accelerate platform innovation, deliver customer-driven technology offerings, grow its partner ecosystem, and build a community of scientists, developers, and industry consultants to help address an ever-growing list of customer needs.
Scitara is a global provider of cloud-based, industry-specific platform and solutions for the life sciences industry. Based in Massachusetts, the Scitara leadership brings decades of experience in solving digital challenges for the scientific laboratory: Meet the Modern Lab™.