Labforward announced raising €5 million in a series B round backed by Tecan, 2mag and Peppermint Venture Partners

Switzerland Germany Investments 08 January 2021
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Labforward, a Berlin, Germany-based operator of a connectivity platform for laboratories, announced securing a €5 million ($6M) series B funding round.

The money was raised from the laboratory equipment manufacturers Tecan and 2mag as well as existing investor Peppermint Venture Partners.

Proceeds will be used for growth as Labforward will expand internationally.

Labforward, led by CEO Simon Bungers, was formed by the merger of labfolder GmbH and cubuslab GmbH in May 2019.

Labfolder was founded by Simon Bungers and biophysicist Florian Hauer (CPO) in 2013, who were later joined by Yannick Skop (COO) and Mario Russo (CTO). Dominic Lütjohann and Julian Lübke, who founded cubuslab GmbH in 2015 joined the Labforward team as co-founders and as leaders of the Laboperator product.

The Labfolder ELN is used by more than 40,000 international scientists and supports laboratory teams to record, share, retrieve and validate data as a team.

The Laboperator platform can remotely control and monitor laboratory devices and equipment as well as execute structured and automated workflows. Data is stored centrally and is always available for data management platforms such as Labfolder or other ELN or LIMS systems.

Previous to this financing round, Labforward has been supported by investors such as Peppermint Ventures, the IBB Beteiligungsgesellschaft, Vogel Ventures and a consortium of expert business angels.