BennuBio, Inc. Announces $5 Million in New Financing
BennuBio, Inc., a provider of advanced cell and particle instrumentation for the life science market, today announced it has closed on $5 million of a $7 million financing round.
The Series B financing was led by new investor Co-Win Ventures with additional investment by existing investors Tramway Venture Partners, Cottonwood Technology Fund, and Sun Mountain Capital. In connection with the financing, Xin Huang of Co-Win Ventures will join BennuBio’s Board of Directors.
“We are delighted to have Co-win Ventures lead the financing and are grateful for the continued support of our existing investors. Co-Win has a great track record of investing in successful life science companies,” said Steven W. Graves, CEO of BennuBio. “These funds will enable the company to expand our commercial efforts, accelerate the development of new features for our initial product, and further develop additional complementary products.”
BennuBio’s platform for cell and particle analysis, the VeloCytTM Flow Cytometer, measures critical properties of cells, model tissue systems, small organisms, and other particles at up to 100 times the rate of any other instrument while providing unmatched assay flexibility and providing total sample recovery. Utilizing patented acoustic technology, these features make the VeloCytTM a major advance for a wide array of biomedical research applications including rare cell detection for numerous diseases and the rapid discovery of new pharmaceuticals for the treatment of cancer and other diseases. In addition to the VeloCytTM, BennuBio is developing new products for rare cell sorting and the generation of 3D tissue models for disease research.