Parallel Fluidics, the fastest microfluidic device manufacturer globally, announced the closing of its $7 million seed round, led by J2 Ventures, with participation from 8VC and Praxis. This funding round will help drive the growth of the company’s on-demand design and manufacturing platform, expand its hardware and software solutions, and commercialize its new product MV-2.
Diagnostics, drug discovery, precision medicine, sequencing, and cell therapy verticals have been quickly shifting towards microfluidics, a technology that allows scientific tests to run at microscopic scales. This technology enables life science companies to achieve the next level of precision, speed, and throughput.
Parallel Fluidics’ hardware library provides an array of off-the-shelf hardware solutions to solve engineering challenges in microfluidics, reducing the cost and time for customers to develop new products. And the MV-2 is Parallel’s latest addition, an innovative microvalve that enables products to work at the point of care, like a doctor’s office, clinic, or hospital, instead of only in laboratory environments. Overture Life, an exciting life science startup simplifying in-vitro fertilization procedures, is using the MV-2 to control flow in its next-generation system.
KEY QUOTES:
“Scientists and engineers developing the next breakthrough life science technology shouldn’t be forced to reinvent the wheel when it comes to microfluidic systems, especially in applications like point-of-care diagnostics. With clients including academic labs, venture-backed startups and large biotech companies, Parallel Fluidics is making a huge impact with its on-demand microfluidic manufacturing services. Their products eliminate the common development risks, and accelerate the timeline from concept to launch by delivering production-ready devices in as little as three days – a true game changer for time-sensitive, cost-effective R&D.”
– Jon Bronson, PhD, Managing Partner and co-founder of J2 Ventures
“While more life science products are built with microfluidics, scientific teams have historically struggled with engineering and manufacturing challenges unrelated to their novel technology, such as flow control, automation, and the chip-to-world interface. At Parallel Fluidics, we are on a mission to help scientific teams build scalable and reliable products to identify diseases faster and develop more effective medicines. With the new funding, we’ll be able to scale up our on-demand manufacturing service, expand our hardware library, and develop new design and analytics software to power the next generation of life science tools.”
– Josh Gomes, CEO and co-founder of Parallel Fluidics
“In order to provide advanced care in fertility treatments such as IVF, precise fluid control and the ability to manage sensitive biological samples without being wasteful are critical. Solutions like Parallel Fluidics’ microfluidic systems are filling that gap with their microvalves and enabling faster, more reliable processes that can help us enhance patient outcomes and drive innovation in reproductive medicine.”
– Lionel Matthys, Chief Product Officer, Overture Life
