BioLinker Raises $1.7 Million in Seed Funding
BioLinker, a biotechnology startup based in Manaus, Amazonas, Brazil, has successfully raised $1.7 million in a seed funding round. The round was led by Axcell, with additional investment from FAPESP. BioLinker specializes in molecular biology products, viral antigens, and bio-inputs, catering to diagnostics, applied research, food industry, and pharmaceuticals.
Investment Details
The seed funding round was primarily backed by Axcell, which invested $1.4 million. FAPESP contributed approximately $240,000 through its PIPE Phase 2 program. This financial support will enable BioLinker to pursue its ambitious plans to build an automated biotechnology laboratory in Manaus.
Plans for the New Funding
BioLinker intends to utilize the fresh capital to establish an automated laboratory at the Amazon BioBusiness Center. This facility will leverage robotics technology to produce biological data at scale, which will be instrumental for training artificial intelligence models. Additionally, the company plans to enhance its DNA production capabilities within Brazil.
Expansion and Hiring Plans
The funding will also facilitate the expansion of BioLinker's team, which currently comprises 12 employees. The company aims to double its workforce to 24, enhancing its operational capacity and research capabilities.
Looking Ahead
Founded by scientists from the University of São Paulo, BioLinker is actively seeking an international investor to join this round, with a view to supporting further expansion and preparing for a Series A funding round within the next two years. According to CEO Mona Oliveira, the company expects the newly acquired funds to support operations for the next three years, while continuing to generate recurring revenue.
BioLinker's strategic move to establish a state-of-the-art lab in the Amazon region highlights its commitment to leveraging local resources and expertise to advance biotech innovations.