Funding round
NewLimit Series A
NewLimit, which works in epigenetic reprogramming medicine development in South San Francisco, raised $40M in a Series A round announced on 16 May 2023. 3 firms took part. It is NewLimit's first venture round on record.
$40M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
NewLimit did not disclose a valuation in this round. It is NewLimit's first venture round on record, 1 year after it was founded in 2022. It is 6.2% of the $650M NewLimit has raised in the venture rounds on record. NewLimit raised again 24 months later: a Series B round of $130M in May 2025. Its next priced round, a Growth in Oct 2025, valued it at $1.62B.
NewLimit's funding rounds
NewLimit has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- backs 24 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
192 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $29M, and this round was 1.4 times the median. The closest in time, other companies' Series A rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 23 May 2023 | $300M | not disclosed | MPM BioImpact and F2 Venture Capital |
| Biotechnology | 16 May 2023 | $100M | not disclosed | Novo Holdings |
| Biotechnology | 1 May 2023 | $75M | not disclosed | Apple Tree Partners |
| Biotechnology | 18 May 2023 | $73M | not disclosed | Hatteras Investment Partners |
| Biotechnology | 11 May 2023 | $50M | not disclosed | Recipharm |
| Biotechnology | 10 May 2023 | $30M | not disclosed | Boehringer Ingelheim Venture Fund and Roche Venture Fund |
| Biotechnology | 24 May 2023 | $17M | not disclosed | Illumina Ventures and RA Capital |
| Biotechnology | 2 May 2023 | $16M | not disclosed | Hatteras Venture Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did NewLimit raise in its Series A round?
NewLimit raised $40M in its Series A round, announced in May 2023.
Which investors took part in NewLimit's Series A round?
Dimension, Founders Fund and Kleiner Perkins.
What was NewLimit's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Biotechnology?
192 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $29M, and this round was 1.4 times the median.
Did NewLimit raise again after this round?
Yes: a Series B round in May 2025 of $130M.