London-based automation startup raises $50M in Collection B spherical

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Automata, an automation firm serving to life sciences innovate, diagnose and uncover at scale, at present introduced a $50 million (£36.8M) elevate in Collection B funding.

The spherical was led by Octopus Ventures with participation from returning buyers Hummingbird, Latitude Ventures, ABB Expertise Ventures, Isomer Capital in addition to strategic buyers together with In-Q-Tel.

WHAT IT DOES

The agency’s Automata Lab know-how permits life scientists to shorten turnaround instances by scaling capacities, enabling them to spend extra time on their analyses and lowering prices. It just lately partnered with the NHS, with its techniques being utilised by NHS pathology labs to assist meet diagnostic backlogs and upscale capability. One NHS labs is operating 40 totally automated stations.

Automata additionally advises and deploys automation with contract analysis organisations, analysis labs, and blue-chip healthcare establishments.

WHAT IT’S FOR

The funding will allow vital improvement of Automata Labs for scientists working throughout diagnostic, drug discovery and biotech within the UK and past.

MARKET SNAPSHOT

Adoption of automated options to extend productiveness and reduce inefficiencies within the healthcare trade has accelerated because the COVID pandemic.

Voice-powered physician’s assistant Notable introduced a $100 million (£73.6M) Collection B funding spherical in November 2021 for its automation instruments for medical administration and workflows. The identical month, healthcare name automation firm Infinitus Programs introduced a $30 million (£22M) Collection B funding spherical.

Additionally final 12 months, healthcare automation firm Olive closed a $400 million (£294M) spherical for its software program which automates administrative duties for healthcare organisations.

In the meantime in India, Healthnet World just lately launched a sensible in-patient room automation system AutoMaid, that includes distant affected person monitoring and triaging.

ON THE RECORD

Mostafa ElSayed, Automata CEO mentioned: “I’m actually excited at how this funding will take us on the subsequent stage of our profitable journey. At Automata we’ve all the time believed within the energy of automation to assist quite a lot of makes use of particularly when deployed at scale. We’re thrilled to see our customers undertake automation at a scale that transforms their means to ship extra innovation within the life sciences to finally speed up their pursuit of progress.

“For much too lengthy scientists and clinicians have been having to work with overly complicated lab options: tools and software program are disjointed and troublesome to orchestrate, whereas options are sometimes too inflexible and inappropriate for labs with small geographic footprints.  Our subsequent technology know-how solves this.”

Jess McCreadie, principal, well being tech at Octopus Ventures mentioned: “Automata’s robotic capabilities are actually the primary of its sort and the corporate has mixed this with deep experience in automation and a extremely efficient enterprise mannequin which has created a modern over rivals. Automata Labs accelerates human ingenuity, empowering labs, and scientists, to realize constant outcomes sooner, on a higher scale, and to finally upscale their ambitions.

“We’re delighted to have led this financing spherical as Automata represented precisely the kind of extremely progressive firm we put money into and assist.”



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