TetraScience Secures $8M Series A Funding to Expand Cloud Data Platform for Life Sciences

On October 31, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that TetraScience, the first developer of a cloud-based data integration platform in the life sciences sector, announced the completion of its $8 million Series A financing round. The round was led by Waters Corporation (WAT), a global leader in specialized measurement technologies, with participation from Y Combinator, Underscore VC, Founder Collective, Floodgate, and First Round Capital.

It is understood that TetraScience will use these funds to expand its business team and provide support to a growing number of global customers and partners.

TetraScience is a cloud technology company dedicated to driving transformation in life sciences research and development (R&D) to discover and improve human lives. Initially, Siping Wang, who holds a master’s degree from the Massachusetts Institute of Technology (MIT), and Salvatore Salvo, who earned his Ph.D. in metamaterials from the University of Naples Federico II in Italy, co-founded TetraScience to address the scientific data challenges they personally encountered as researchers. As the distributed model of scientific research continues to evolve, R&D in life sciences becomes increasingly data-driven, and laboratory operations grow more complex, Wang and Salvo recognized the need for a new data integration infrastructure to drive transformation in drug development.

To this end, TetraScience leverages a cloud-based platform to streamline the collection, standardization, and centralization of R&D data, accelerating development timelines and enabling scientists to make informed decisions earlier. Market demand for this solution has been remarkable, with more than 70 leading pharmaceutical and biotechnology companies having adopted TetraScience’s platform to date.

Siping Wang, Co-founder and CEO of TetraScience, said, “I am honored by this vote of confidence from renowned industry leaders. Furthermore, WAT brings over 60 years of experience in high-value analytical technologies, scientific expertise, and global reach.”

Alan Millar, Senior Director of Corporate Development at WAT, stated, “We believe that dynamic young companies like TetraScience can drive the transformation of how the scientific community collects, shares, and analyzes R&D data. WAT is pleased to support TetraScience through this investment.”

Waters Corporation (NYSE: WAT) is a global leader in specialized measurement, with over 60 years of pioneering innovation in chromatography, mass spectrometry, and thermal analysis serving the life, materials, and food sciences. Waters employs approximately 7,200 people worldwide, operates directly in 35 countries—including 15 manufacturing facilities—and delivers its products in more than 100 countries.

Y Combinator, founded in April 2005 in Mountain View, California, is a startup incubator that provides services such as funding and business advisory to numerous startups. In 2005, Y Combinator pioneered a new startup financing model, investing small amounts of capital in a large number of startups twice a year.

Underscore VC, founded in 2015, is a Boston-based venture capital firm with an investment focus on trusted cloud intelligence and technology.

Founder Collective is a New York-based investment firm focused on seed-stage investments in companies worldwide.

Floodgate is a venture capital firm specializing in micro-seed investments in startups, seeking to invest in companies within technology-related sectors.

First Round Capital is a venture capital firm dedicated to providing seed-stage investment to technology companies, with a focus on their growth during the first 18 months. Founded by Josh Kopelman, the firm has offices in San Francisco, Philadelphia, and New York.

(Compiled by Xiong Hui)