From left: Carl-Emil Grøn, Magnus Nyborg Madsen and Daniel Storgaard. Image: Reshape Biotech
Backed by Y Combinator and Astanor Ventures, the latest investment will bring the company’s R&D and lab automation technology to researchers based in the US.
Reshape Biotech, an AI and robotics start-up based in Copenhagen, Denmark, has raised $20m in its latest funding round as it sets eyes on the US market to speed up biomedical research.
Founded by Carl-Emil Grøn, Magnus Nyborg Madsen and Daniel Storgaard in 2018, Reshape develops technologies that bring AI and robotics together to automate visual lab experiments with greater speed and precision.
Used by researchers based in places such as Swiss agritech giant Syngenta and University of Oxford, the company’s technology is focused on improving R&D across three main industries: biotech, agriculture and food.
“When I founded Reshape together with Magnus and Daniel, we were driven by a singular vision: to revolutionise the way biological research is conducted,” said Grøn, who is the CEO. “This is not just about efficiency. It’s about accelerating our collective journey towards groundbreaking scientific discoveries that can help us tackle some of the biggest global issues we face today.”
The Series A funding round announced yesterday (9 April) was led by Astanor Ventures and backed by Y Combinator, R7 and Acme Capital.
Reshape raised more than $8m in February last year in what became one of Denmark’s largest ever seed rounds. Now, Grøn says the latest investment will help fuel the start-up’s next phase of growth.
“We’re setting our sights on expanding our operations in the US, that will not only bring our technology to more researchers and companies, but also solidify our presence in one of the world’s most important scientific environments,” he said.
Reshape is also looking to hire top global talent across a variety of roles as it pursues a “new era” of R&D that is faster, more accurate and capable of “addressing the complex challenges” facing the world.
“As we move forward, I’m reminded of the complexity of biology and the transformative power of our platform to make sense of it,” Grøn added. “The potential to accelerate the pace of discovery and development across biotech, agriculture and food sectors is enormous – not just for improving research efficiency, but for building a more sustainable and biodiverse planet.”
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