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Cellbox Labs secures €935k
14 May 2024·2 min read

Joy Laoun

News Editor, Vestbee

Riga-based biotech Cellbox Labs secures €935k led by Buildit VC

Latvian biotech startup Cellbox Labs has secured €935,000 to further develop its automated organ-on-chip culturing platform and launch sales operations. The funding was led by Buildit VC, with support from business angels from the Latvian Business Angels Network.

  • Riga-based Cellbox Labs was founded in 2020 by Arturs Abols, Gatis Mozolevskis, and Roberts Rimša. The startup specializes in developing miniature organ models called organs-on-chip that replicate real organs outside the body. Its primary focus is on recreating the microbiome and gut environments. This technology aims to facilitate the development of improved drugs and enhance the understanding of biological processes.
  • Currently, Cellbox Labs is developing a user-independent device that can operate its chips, featuring top and bottom channel microscopy and an AI-based system.
  • The funding round was led by Buildit VC, a Latvian venture capital firm that invests in global hardware and IoT startups. It supports pre-seed startups with ticket sizes ranging from €10,000 to €50,000 and provides up to €250,000 in seed investments.
  • The investment in Cellbox Labs also saw participation from the Latvian Business Angel Network (LatBAN), a business angel community managed by Girts Licis, as well as Ansis Spridzans from ASP Asset Management AIFP.
  • Cellbox Labs plans to expand its team, further develop its automated organ-on-chip culturing platform, and work on its marketing efforts.

 



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