Funding round
Element Biosciences Series B
Element Biosciences, which works in sequencing platform manufacturing in San Diego, raised $80M in a Series B round announced on 9 Jan 2020. 4 firms took part. It is Element Biosciences' second venture round on record; the one before was a Series A in Jun 2019.
$80M
Amount raised
Not disclosed
Post-money valuation
4
Investors
no lead named
Valuation
What this round says about the price
Element Biosciences did not disclose a valuation in this round. It came 7 months after Element Biosciences' Series A. It is 9.8% of the $823M Element Biosciences has raised in the venture rounds on record. Element Biosciences raised again 17 months later: a Series C round of $276M in Jun 2021. 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
4 firms took part; no lead investor was named.
Investors
- Fidelity Management & Research Company new investor
- JS Capital LLC new investor
- 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 and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
57 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $40M, and this round was 2.0 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 30 Jan 2020 | $45M | not disclosed | Decheng Capital |
| Biotechnology | 7 Jan 2020 | $40M | not disclosed | Future Ventures |
| Biotechnology | 8 Jan 2020 | $40M | not disclosed | venBio and Sofinnova Partners |
| Biotechnology | 13 Jan 2020 | $20M | not disclosed | Adjuvant Capital |
| Biotechnology | 21 Jan 2020 | $12M | not disclosed | not named |
| Biotechnology | 14 Jan 2020 | $9.0M | not disclosed | Research Corporation Technologies |
| Biotechnology | 28 Dec 2019 | $100M | not disclosed | Hyfinity Investments |
| Biotechnology | 4 Dec 2019 | $53M | not disclosed | Pfizer Ventures and Bpifrance |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Element Biosciences raise in its Series B round?
Element Biosciences raised $80M in its Series B round, announced in Jan 2020.
Which investors took part in Element Biosciences' Series B round?
Fidelity Management & Research Company, JS Capital LLC, Foresite Capital and Venrock.
What was Element Biosciences' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
57 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $40M, and this round was 2.0 times the median.
Did Element Biosciences raise again after this round?
Yes: a Series C round in Jun 2021 of $276M.