IndieBio’s fellow startup development program, HAX, just recorded a big win, as reported by Bloomberg in “SoftBank Invests in Robotic Company Behind NYC Covid Testing. HAX alum Opentrons Labworks Inc. raised $200 million in round led by Softbank to reach a valuation of $1.8 billion. The Brooklyn-based, laboratory robotics company used its automated systems to decrease Covid-19 testing result times from 14 days to 24 hours and reduced test costs from $2,000 to $28. Opentrons “has grown to support a community of more than 1,000 scientists and 46 countries.” Other participating investors in the funding include Khosla Ventures and ex-Pfizer Inc. CEO Jeff Kindler.
“Biology opens the door to solve many of humanity’s grand challenges. For far too long, scientists and clinicians have been locked-in by slow, expensive, and overly complex lab solutions that underpin their work.” —Brennan-Badal, Chief Executive Officer, Opentrons