Funding round
BioCorteX Seed
BioCorteX, which works in biotechnology research and development in London, raised $5.0M in a Seed round announced on 31 Mar 2023, led by Sofinnova Partners and Hoxton Ventures. 2 firms took part.
$5.0M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
BioCorteX did not disclose a valuation in this round. It is BioCorteX's first venture round on record, 2 years after it was founded in 2021. No later venture round is on record for BioCorteX.
BioCorteX's funding rounds
This is the only venture round on record for BioCorteX.
- Seed this round 31 Mar 2023, led by Sofinnova Partners and Hoxton Ventures $5.0M
Investors
Who put money in
Sofinnova Partners and Hoxton Ventures led the round.
Lead investors
- backs 102 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Joined the board: Edward Kliphuis (Sofinnova Partners) and Hussein Kanji (Hoxton Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
175 Seed rounds in Biotechnology within a year either side disclosed an amount; the median was $4.5M, and this round was close to the median. The closest in time, other companies' Seed rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 13 Mar 2023 | $13M | not disclosed | DCVC |
| Biotechnology | 15 Mar 2023 | $13M | not disclosed | Wellington Partners and Forbion |
| Biotechnology | 15 Mar 2023 | $12M | not disclosed | Grove Ventures |
| Biotechnology | 28 Mar 2023 | $11M | not disclosed | Main Sequence |
| Biotechnology | 16 Mar 2023 | $8.0M | not disclosed | The Engine |
| Biotechnology | 1 Mar 2023 | $7.0M | not disclosed | Pillar VC |
| Biotechnology | 28 Mar 2023 | $4.9M | not disclosed | Future Food Fund |
| Biotechnology | 2 Mar 2023 | $2.7M | not disclosed | Zentynel and SF500 |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did BioCorteX raise in its Seed round?
BioCorteX raised $5.0M in its Seed round, announced in Mar 2023.
Who led BioCorteX's Seed round?
Sofinnova Partners and Hoxton Ventures led it.
What was BioCorteX's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Biotechnology?
175 Seed rounds in Biotechnology within a year either side disclosed an amount; the median was $4.5M, and this round was close to the median.