New dimension for efficient laboratory work

Laboratory SaaS provider Labforward ramps up Series B financing to >€8.5 million in second closing

06-May-2021 - Germany

With the successful completion of a second closing, Labforward adds >€3m to the Series B from January, bringing the total funds raised to >€8.5m. The majority of the new investment comes from the Fielmann Family Office, majority owner of the leading German family business of the same name that serves its 27m customers across 15 European markets with eyewear and hearing aids.

Labforward

Labforward has completed a second closing for its Series B. The family office of the Fielmann family, the existing investor IBB Ventures as well as existing and new business angels invest in the laboratory software company with headquarters in Berlin, Germany.

Laboratories have always involved a lot of manual processes that require the presence of an entire laboratory team on site. In the COVID 19 crisis, the degree to which labs have already digitized or automated these processes makes the difference between being able to safely continue important scientific work or having to choose between a complete shutdown or putting employees at risk for several months.

“Last year's experience showed lab teams the importance of investing in automation and digital data management to keep a lab running with fewer on-site staff.” as Dr. Simon Bungers, co-founder and CEO of the company explains: “We’re seeing increased demand for our solutions which let teams control devices remotely, capture data digitally and let scientists access the data in the cloud or an accessible server for analysis and process optimization.”

Innovative digital solutions that improve processes of life science companies, the pharma industry and healthcare in general are at the core of the investment focus of the team behind the Fielmann Family Office. “We are actively searching for software solutions that increase productivity and efficiency in the healthcare industry.” as Peter Stauffer, managing director of the family office explains. He continues: “After experiencing the COVID crisis, no one will accept average drug development cycles of 12 years anymore. Labforward´s manufacturer-independent and device-agnostic offering allows a new dimension for efficient laboratory work and supports the shortening of drug development cycles. We are happy to

invest in the company's growth and to enable the digitization of laboratories around the globe.”

With the additional funding, Labforward is going to invest in further expansion of the team and making the fully-digitized laboratory of the future more accessible to organizations that look for smart solutions for their laboratories. “Together with partners from the industry, we are currently building a showroom laboratory in Berlin. There, laboratory teams from around the world can experience what is possible with the technology of today. It’s going to be a great place to demonstrate how connected laboratories work and it also allows us to test a lot of ideas and innovations.” Simon Bungers explains.

The showroom is going to be opened in summer of this year.

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