Funding round
Element Biosciences Series A
Element Biosciences, which works in sequencing platform manufacturing in San Diego, raised $15M in a Series A round announced on 18 Jun 2019, led by Foresite Capital and Venrock. 2 firms took part. It is Element Biosciences' first venture round on record.
$15M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Element Biosciences did not disclose a valuation in this round. It is Element Biosciences' first venture round on record, 2 years after it was founded in 2017. It is 1.8% of the $823M Element Biosciences has raised in the venture rounds on record. Element Biosciences raised again 7 months later: a Series B round of $80M in Jan 2020. Its next priced round, a Series D in Jul 2024, valued it at $1.03B.
Element Biosciences' funding rounds
Element Biosciences has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Foresite Capital and Venrock led the round.
Lead investors
- backs 39 venture-backed companies new investor
- Venrock backs 93 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
90 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $13M, and this round was close to the median. The closest in time, other companies' Series A rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 25 Jun 2019 | $67M | not disclosed | Deerfield and Droia Ventures |
| Biotechnology | 24 Jun 2019 | $10M | not disclosed | not named |
| Biotechnology | 24 Jun 2019 | $7.7M | not disclosed | Revelis Capital Group |
| Biotechnology | 20 May 2019 | $38M | not disclosed | Seroba Lifesciences |
| Biotechnology | 7 May 2019 | $34M | not disclosed | BioGeneration Ventures and Wellington Partners |
| Biotechnology | 13 May 2019 | $15M | not disclosed | Sofinnova Partners |
| Biotechnology | 10 Jul 2019 | $9.0M | not disclosed | Noshaq |
| Biotechnology | 30 Jul 2019 | $8.7M | not disclosed | Khosla Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Element Biosciences raise in its Series A round?
Element Biosciences raised $15M in its Series A round, announced in Jun 2019.
Who led Element Biosciences' Series A round?
Foresite Capital and Venrock led it.
What was Element Biosciences' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Biotechnology?
90 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $13M, and this round was close to the median.
Did Element Biosciences raise again after this round?
Yes: a Series B round in Jan 2020 of $80M.