Funding round
Element Biosciences Series C
Element Biosciences, which works in sequencing platform manufacturing in San Diego, raised $276M in a Series C round announced on 29 Jun 2021. 11 firms took part. It is Element Biosciences' third venture round on record; the one before was a Series B in Jan 2020.
$276M
Amount raised
Not disclosed
Post-money valuation
11
Investors
no lead named
Valuation
What this round says about the price
Element Biosciences did not disclose a valuation in this round. It came 17 months after Element Biosciences' Series B. It is 34% of the $823M Element Biosciences has raised in the venture rounds on record. Element Biosciences raised again 37 months later: a Series D round of $277M in Jul 2024, at $1.03B post-money.
Element Biosciences' funding rounds
Element Biosciences has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
11 firms took part; no lead investor was named.
Investors
- Janus Henderson Investors new investor
- backs 16 venture-backed companies new investor
- Meritech Capital backs 84 venture-backed companies new investor
- Morgan Stanley backs 120 venture-backed companies new investor
- T. Rowe Price new investor
- Fidelity Management new investor
- backs 39 venture-backed companies new investor
- JS Capital Management new investor
- backs 109 venture-backed companies new investor
- Venrock backs 93 venture-backed companies new investor
- Fidelity Management & Research Company
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
49 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $85M, and this round was 3.2 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 1 Jun 2021 | $100M | not disclosed | HighLight Capital and Panacea Venture |
| Biotechnology | 11 Jun 2021 | $37M | not disclosed | UTokyo IPC |
| Biotechnology | 26 May 2021 | $200M | not disclosed | Cormorant Asset Management and HBM Healthcare Investments |
| Biotechnology | 28 Jul 2021 | $180M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 17 May 2021 | $125M | not disclosed | Novo Holdings |
| Biotechnology | 13 May 2021 | $105M | $600M | Greater Bay Area Homeland Development Fund |
| Biotechnology | 28 Jul 2021 | $90M | not disclosed | Wellington Management |
| Biotechnology | 25 May 2021 | $89M | not disclosed | Flagship Pioneering |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Element Biosciences raise in its Series C round?
Element Biosciences raised $276M in its Series C round, announced in Jun 2021.
Which investors took part in Element Biosciences' Series C round?
Janus Henderson Investors, Logos Capital, Meritech Capital, Morgan Stanley, T. Rowe Price and Fidelity Management and 5 more.
What was Element Biosciences' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
49 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $85M, and this round was 3.2 times the median.
Did Element Biosciences raise again after this round?
Yes: a Series D round in Jul 2024 of $277M at $1.03B post-money.