Participated · Series C · Dec 2023

Parse Biosciences offers an Evercode single-cell sequencing product portfolio (Evercode Whole Transcriptome, Evercode TCR, Evercode Cell Fixation, Evercode Nuclei Fixation, Gene Capture, CRISPR Detect) plus data analysis tools. Its technology enables large-scale single-cell experiments without custom instrumentation and has been adopted by over 1,000 labs worldwide. Products are available across key international markets, including Australia, Europe, India, Israel, New Zealand, Singapore, and South Korea. The company recently opened a 34,000 square foot headquarters and laboratory in Seattle’s South Lake Union district. Parse serves academic, biotech, and pharma customers and is expanding support for large-scale programs such as immune profiling and pooled CRISPR screens. The company reports continued customer demand and is scaling operations to meet that demand while broadening applications of its Evercode platform. Parse Biosciences develops the Evercode Whole Transcriptome product line, which uses a patented combinatorial barcoding technique to improve sample resolution, increase transcript sensitivity, and simplify workflow. Its Evercode Whole Transcriptome Mega kit can profile up to 1,000,000 cells in parallel, while the Mini kit profiles up to 10,000 cells for smaller studies. The company plans to expand the Evercode platform beyond transcriptomics into multi-omic measurements and to broaden its product portfolio later this year. Planned new products and applications include immune profiling (gene expression plus receptor profiling), chromatin profiling, high-throughput CRISPR screens, targeted gene panels, and increased sensitivity in transcript detection. Parse said the Series B raise will support commercialization and product expansion. Financially, the company closed a $41.5M Series B and has raised over $50M to date following a $7M Series A in January 2021. Parse Biosciences (formerly Split Biosciences) provides scalable and flexible single-cell sequencing solutions. Its core product, the Whole Transcriptome Kit, enables researchers to profile up to 100,000 cells in parallel across up to 48 samples while improving data quality, increasing gene detection, and reducing confounding artifacts common in single-cell experiments. The company also supplies a computational pipeline that generates experimental reports, gene-cell count matrices and other processed data that integrate with tools like Seurat and Scanpy. The Whole Transcriptome Kit is already used in 40 labs across the country. Parse raised $7M in a Series A to continue scaling the commercial roll-out of the kit. The company is led by Alex Rosenberg (CEO) and Charlie Roco (CTO).

Led · Series A · Apr 2022

Tandem PV builds perovskite-silicon tandem solar panels that stack a thin perovskite layer atop conventional silicon cells to increase power output and lower costs. Its panels currently achieve about 28% efficiency and are reported to be roughly 30% more powerful than average silicon panels. The company emphasizes durability and scalability, citing lab results that project decades-worth of stability and plans for extensive third-party testing in real-world conditions. Tandem PV is expanding domestic manufacturing to support U.S. clean-energy leadership, supply-chain resilience, and lower costs. The recent CEC grant will fund independent validation of long-term durability, environmental resilience, and energy yield to accelerate commercial readiness. To date the company has combined venture, debt, and government funding to advance manufacturing and commercialization efforts. Tandem PV develops perovskite-based tandem solar panels that combine industry-leading durability and efficiency for broad-scale deployment. Its panels currently achieve 28% efficiency and are projected to surpass 30% by late 2025, about 30% more powerful than the average silicon panel. The company’s perovskite layer is roughly 200 times thinner than silicon and its production reportedly requires just 10% of the energy of conventional panels, lowering production energy, labor, and land costs. Tandem PV plans to build a commercial-scale U.S. manufacturing facility to accelerate commercialization and re-establish domestic solar manufacturing leadership. Industry reports project perovskite modules will reach gigawatt-scale production by 2028, positioning the company to scale with existing silicon infrastructure. Financially, Tandem PV has raised a total of $83 million in venture capital, debt, and government funds to date. Tandem PV develops thin-film perovskite layers stacked on conventional silicon cells to produce higher-efficiency tandem solar panels. The company is currently producing tandem panels with roughly 26% efficiency, about 25% more powerful than typical silicon panels, and claims potential designs up to 40% more powerful than today’s panels. More power at similar price-per-watt is positioned to lower installation labor, land-acquisition costs, and total cost of ownership for customers. Tandem PV has demonstrated the equivalent of decades of projected durability in lab testing and plans independent industry-standard validation of efficiency and durability in 2024. Research and development continue alongside plans for a first manufacturing facility to enable broader deployment. The company emphasizes commercializing durable, highly efficient perovskite-based panels for large-scale adoption. Tandem PV designs tandem perovskite-on-silicon solar panels that boost the output of conventional silicon cells by stacking thin-film perovskite materials. The company is producing panels with about 26% efficiency, roughly 25% higher output than average silicon panels, and reports lab-demonstrated durability equivalent to decades. Tandem PV plans to obtain independent industry-standard validation of efficiency and durability during 2024 and to bring customer agreements to begin building its first manufacturing facility. The company is led by CEO Scott Wharton, who joined last summer to accelerate commercialization. Tandem has raised venture and government funding to support R&D and scale-up activities. Tandem PV specialises in ultra-high-efficiency tandem metal-halide perovskite solar panels that convert conventional silicon modules into higher-efficiency tandems via a perovskite-coated front glass drop-in replacement. The company plans to manufacture its first commercial-grade tandem solar panels to provide more efficient and affordable solar energy to customers. It will use the recent financing to build a pilot manufacturing facility at its San Jose, California headquarters. Tandem PV says it has strong market pull from residential solar installers, end users, equipment distributors and utilities. The company was co-founded by materials science PhD Colin Bailie, who developed the design at Stanford, and Chris Eberspacher, former CTO of Hanwha Solar. The move into pilot production is positioned as the next step toward demonstrating and commercialising its perovskite-silicon tandem technology.

Participated · Series B · Mar 2022

Arzeda builds a protein-design platform that uses biophysics-informed AI combined with generative methods (large language and diffusion models) trained on a proprietary dataset to design enzymes and proteins. The company targets non-biomedical, industrial and consumer applications—its first product is a natural stevia-based sweetener for an unnamed consumer brand, with pipeline projects including laundry detergents for Unilever and biodegradable materials co-developed with W. L. Gore. Arzeda also handles experimental validation and manufacturing of its designs and generates revenue from both sales of proteins/enzymes and end products made with contracted partners. The firm reports a 70-person team and says it is generating revenue, with customers including Unilever, W. L. Gore, AAK and the U.S. Department of Defense. It aims to scale production of its artificial sweetener and commercialize additional enzymes while working toward corporate-EBITDA-positive performance. Arzeda is a Seattle-based protein design company that engineers proteins and enzymes to replace ingredients with a high environmental footprint. The company uses a platform that combines physics-based computational protein design, machine learning, and lab automation to design and build new molecules. It works in partnership with Fortune 500 companies and industrial leaders to develop sustainable products for food & nutrition, advanced materials, and diagnostics & pharma industries globally. Led by CEO Alexandre Zanghellini, Arzeda intends to accelerate product development and commercialization of new enzymes. The company raised new capital to fund those commercialization and product development efforts. Arzeda leverages an advanced protein design technology and a proprietary platform to design enzymes and biological pathways for commercial production. The company develops a portfolio of enzymes and specialty chemicals targeting polymers, advanced materials and health and nutrition markets. It serves global manufacturers, including DuPont, Mitsubishi Chemical and INVISTA, and works to improve crop yield and resilience. Led by co‑founder and CEO Alexandre Zanghellini, Arzeda is expanding its product development pipeline. The company will use the new funding to expand the throughput capacity of its protein design platform and advance products toward commercial production. The close of the Series A comes as Arzeda gains traction in the synthetic biology and bioeconomy markets.

Led · Series B · Sep 2020

Lumen Bioscience is a clinical-stage biopharmaceutical company that develops and manufactures biologic drugs and vaccine candidates by genetically engineering spirulina to produce therapeutics at low cost and large scale. The company is advancing three clinical programs targeting C. difficile, norovirus, and traveler’s diarrhea, with its lead therapeutic LMN-101 in clinical development. Lumen completed a Phase 1 safety and dose-escalation trial of LMN-101 (NCT04098263) and planned to initiate a Phase 2 trial in early 2021. The company commissioned a dedicated cGMP manufacturing plant that is currently producing approximately 3 kg of drug material per week, which it says is sufficient for its planned clinical programs. Lumen positions its platform to enable rapid, mass-market production of biologics at a small fraction of the cost of traditional fermentation approaches. Financially, the company has raised a new $16M Series B and reports total equity and non-dilutive investment of $68M to support continued clinical advancement. Lumen Bioscience develops a bio-based product development platform that uses Spirulina to make high-value proteins and other molecules for foods, cosmetics, medicine and industry. Its first commercial product is a natural blue colorant for high-purity applications in the food and cosmetics industries, with a commercial launch funded for 2018. The company’s improved Spirulina strains produce more pigment at higher purity and lower cost without introducing foreign gene pathways, and it is developing more stable pigments and a palette of additional colors. Lumen is also exploring therapeutic applications of the platform, including recombinant oral vaccines that have demonstrated immune responses in a variety of species. Foundational research was conducted by Matrix Genetics; Lumen acquired Matrix’s IP, equipment, biological materials and key team members the prior April. The company raised new capital to scale its first product launch and to build out the microbiology tools and methods needed to unlock broader commercial potential.

Participated · Series B · Sep 2019

RoosterBio provides a standardized MSC product platform intended to simplify and accelerate human mesenchymal stem/stromal cell (hMSC) biomanufacturing and enable rapid clinical and commercial translation. The company aims to advance the cell-based bioeconomy by offering tools and products that streamline MSC development and manufacturing. RoosterBio raised a $21.5M Series B (including a $6.5M final tranche) to support its growth and global expansion initiatives. The financing is intended to help expand the company’s presence in worldwide markets and scale operations. Founded in 2013 and led by CEO Margot Connor, RoosterBio is based in Frederick, MD. At the time of the raise the company had 51 employees and planned to add 20 by the end of 2019 and approximately double headcount in 2020 to support global growth. RoosterBio Inc. is a biotech startup supplying human bone marrow-derived Mesenchymal Stem Cells (hBM-MSC) for tissue engineering research and stem cell-based product development. The company serves synthetic biology and regenerative medicine fields by providing hBM-MSC materials for research and product development. RoosterBio is led by Chief Executive Officer Dr. Jon Rowley and Chief Operating Officer Dr. Uplaksh Kumar. It initiated laboratory operations in October 2013 and is based in Frederick, MD. Financially, the company has raised over $250K in seed funding and is actively seeking additional funds via AngelList. No operating metrics (revenue/users) were disclosed in the article.