Funding round
Cellares Series B
Cellares, which works in cell therapy manufacturing in South San Francisco, raised $82M in a Series B round announced on 5 May 2021, led by Decheng Capital and Eclipse. 4 firms took part, 2 of them already investors. It is Cellares' first venture round on record.
$82M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Cellares did not disclose a valuation in this round. It is Cellares' first venture round on record, 2 years after it was founded in 2019. It is 14% of the $594M Cellares has raised in the venture rounds on record. Cellares raised again 27 months later: a Series C round of $255M in Aug 2023.
Investors
Who put money in
Decheng Capital and Eclipse led the round with 2 other firms. Eclipse and 8VC had backed Cellares before.
Lead investors
- Decheng Capital new investor
- Eclipse backs 79 venture-backed companies existing investor
Also in the round
- Skyviews Life Science new investor
- 8VC existing investor
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
77 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 2.3 times the median. The closest in time, other companies' Series B rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 15 Jun 2021 | $210M | not disclosed | SoftBank Vision Fund and Cormorant Asset Management |
| Pharmaceutical Products | 14 Jun 2021 | $168M | not disclosed | not named |
| Pharmaceutical Products | 1 Apr 2021 | $120M | not disclosed | RA Capital |
| Pharmaceutical Products | 12 Apr 2021 | $96M | not disclosed | Soleus Capital |
| Pharmaceutical Products | 7 Apr 2021 | $92M | not disclosed | People's Insurance Capital and SDIC Venture Capital |
| Pharmaceutical Products | 3 Jun 2021 | $12M | not disclosed | Nortecapital and KEY Investment Partners |
| Pharmaceutical Products | 16 Jun 2021 | $3.0M | not disclosed | Next Level Ventures |
| Pharmaceutical Products | 15 Jul 2021 | $172M | not disclosed | Abingworth and Tybourne Capital Management |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Cellares raise in its Series B round?
Cellares raised $82M in its Series B round, announced in May 2021.
Who led Cellares' Series B round?
Decheng Capital and Eclipse led it, with Skyviews Life Science and 8VC.
What was Cellares' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Pharmaceutical Products?
77 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 2.3 times the median.
Did Cellares raise again after this round?
Yes: a Series C round in Aug 2023 of $255M.