Funding round
Tubulis Series B
Tubulis, which works in antibody-drug conjugate development in Planegg, raised $139M in a Series B round announced on 14 Mar 2024, led by EQT and Nextech Invest. 14 firms took part, 11 of them already investors. It is Tubulis' first venture round on record.
$139M
Amount raised
Not disclosed
Post-money valuation
14
Investors
2 leads
Valuation
What this round says about the price
Tubulis did not disclose a valuation in this round. It is Tubulis' first venture round on record, 8 years after it was founded in 2016. It is 28% of the $496M Tubulis has raised in the venture rounds on record. Tubulis raised again 19 months later: a Series C round of $358M in Oct 2025, at $2.10B post-money.
Tubulis' funding rounds
Tubulis has 2 venture rounds on record. This one is highlighted.
- Series B this round 14 Mar 2024, led by EQT and Nextech Invest $139M
- Series C 15 Oct 2025, led by Venrock $358M$2.10B post-money
Investors
Who put money in
EQT and Nextech Invest led the round with 12 other firms. EQT, Nextech Invest, Andera Partners and BioMedPartners and 7 more had backed Tubulis before.
Lead investors
- EQT backs 99 venture-backed companies existing investor
- backs 22 venture-backed companies existing investor
Also in the round
- backs 15 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 26 venture-backed companies existing investor
- backs 14 venture-backed companies existing investor
- backs 16 venture-backed companies existing investor
- backs 92 venture-backed companies existing investor
- Evotec existing investor
- backs 34 venture-backed companies existing investor
- backs 67 venture-backed companies existing investor
- backs 11 venture-backed companies existing investor
- backs 232 venture-backed companies existing investor
- EQT Life Science
Joined the board: Christoph Broja (EQT Life Sciences) and Kanishka Pothula (Nextech Invest).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
71 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 4.0 times the median. The closest in time, other companies' Series B rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 13 Mar 2024 | $50M | not disclosed | Octagon Capital and Great Point Partners |
| Pharmaceutical Products | 21 Mar 2024 | $45M | not disclosed | Bain Capital Ventures |
| Pharmaceutical Products | 13 Mar 2024 | $22M | not disclosed | Starling Locke Capital and LOREA |
| Pharmaceutical Products | 25 Mar 2024 | $16M | not disclosed | Belmondo |
| Pharmaceutical Products | 10 Apr 2024 | $158M | not disclosed | Deep Track Capital |
| Pharmaceutical Products | 22 Apr 2024 | $75M | not disclosed | Forbion and HealthCap |
| Pharmaceutical Products | 25 Apr 2024 | $47M | not disclosed | Agent Capital and Bioluminescence Ventures |
| Pharmaceutical Products | 14 Feb 2024 | $43M | not disclosed | Catalio Capital Management |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Tubulis raise in its Series B round?
Tubulis raised $139M in its Series B round, announced in Mar 2024.
Who led Tubulis' Series B round?
EQT and Nextech Invest led it, with Frazier Life Sciences, Deep Track Capital, Andera Partners, BioMedPartners and Fund+ and 7 more.
What was Tubulis' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Pharmaceutical Products?
71 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 4.0 times the median.
Did Tubulis raise again after this round?
Yes: a Series C round in Oct 2025 of $358M at $2.10B post-money.