Funding round
Element Biosciences Series D
Element Biosciences, which works in sequencing platform manufacturing in San Diego, raised $277M in a Series D round announced on 10 Jul 2024, led by Wellington Management, at a $1.03B post-money valuation. 6 firms took part. It is Element Biosciences' fourth venture round on record; the one before was a Series C in Jun 2021.
$277M
Amount raised
$1.03B
Post-money valuation
$753M pre-money
6
Investors
1 lead
27%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Element Biosciences at $1.03B after the new money. The $277M bought investors about 27% of the company. It came 37 months after Element Biosciences' Series C. It is 34% of the $823M Element Biosciences has raised in the venture rounds on record. Element Biosciences raised again 23 months later: a Series E round of $175M in Jun 2026.
Element Biosciences' funding rounds
Element Biosciences has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Wellington Management led the round with 5 other firms.
Lead investor
- Wellington Management new investor
Also in the round
- Samsung Electronics new investor
- Fidelity new investor
- backs 39 venture-backed companies new investor
- T. Rowe Price Associates, Inc 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, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series D rounds in Biotechnology within a year either side disclosed an amount; the median was $97M, and this round was 2.9 times the median. The closest in time, other companies' Series D rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 16 Jul 2024 | $150M | not disclosed | Canaan and Bioqube Ventures |
| eGenesis Biotechnology | 4 Sep 2024 | $191M | not disclosed | Lux Capital |
| Biotechnology | 12 Nov 2024 | $181M | not disclosed | OrbiMed and Novo Holdings |
| Biotechnology | 5 Nov 2024 | $34M | not disclosed | Seer, Inc. |
| Biotechnology | 12 Mar 2025 | $35M | not disclosed | RA Capital |
| Biotechnology | 3 Mar 2025 | $700K | not disclosed | not named |
| Pathos Biotechnology | 15 May 2025 | $365M | $1.60B | not named |
| Biotechnology | 24 Jun 2025 | $97M | not disclosed | healthcare investor |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Element Biosciences raise in its Series D round?
Element Biosciences raised $277M in its Series D round, announced in Jul 2024.
Who led Element Biosciences' Series D round?
Wellington Management led it, with Samsung Electronics, Fidelity, Foresite Capital, T. Rowe Price Associates, Inc and Venrock.
What was Element Biosciences' valuation at the Series D round?
$1.03B post-money ($753M pre-money).
How does it compare with other Series D rounds in Biotechnology?
9 Series D rounds in Biotechnology within a year either side disclosed an amount; the median was $97M, and this round was 2.9 times the median.
Did Element Biosciences raise again after this round?
Yes: a Series E round in Jun 2026 of $175M.