BioTech Startup 908 Devices Secures $17.5 Million in Funding
908 Devices, a company providing analytical devices for chemical and biomolecular analysis, closed $17.5 million in a Series E growth equity funding round led by Northpond Ventures, a science and technology global venture capital firm. New investor Sands Capital Ventures, a venture capital firm investing in innovative and scalable businesses, joined returning investors ARCH Ventures, Razor’s Edge Ventures, Saudi Aramco Energy Ventures, Schlumberger, Tao Capital Partners, and Casdin Capital in the round. Northpond’s co-founder and partner, Sharon Kedar, will also join the company’s board of directors.
According to the company, this funding brings its total to $70 million, making it the most well-resourced upstart in the mass spectrometry market. 908 Devices plans to use the funding to continue forging long-term partnerships with customers.