Life science instruments company, Lucid Scientific, renowned for its Resipher technology, has successfully closed a Series A financing round, raising an impressive $7 million. The round was spearheaded by IAG Capital Partners and saw participation from Lucid’s original investor base, the Georgia Research Alliance’s Venture Fund, and Dynamk Capital.
This funding catapults Lucid’s total funding to approximately $13 million and is poised to accelerate its expansion in production, sales, marketing, and the development of new products. As part of this partnership, Dr. Ehsan Jabbarzadeh from IAG Capital Partners will join Lucid’s Board of Directors.
The collaboration with IAG Capital Partners represents a significant milestone for Lucid, coming on the heels of the upcoming launch of new Resipher hardware and consumable products scheduled for this fall. Resipher, one of Lucid’s groundbreaking innovations, offers researchers invaluable insights into cellular metabolism—a critical aspect for various therapeutic applications and drug safety considerations.
Resipher stands out by converting standard cell culture plates into intelligent readers capable of detecting and reporting metabolic changes in real-time. This real-time data analysis bridges the gap between conducting experiments and gaining actionable insights, significantly accelerating the cell culture research cycle.
Dennis Sacha of IAG Capital Partners expressed enthusiasm about the partnership with Lucid, stating, “We are thrilled to partner with Lucid Scientific to market a ground-breaking technology for real-time analysis of cell metabolomics. The platform will provide scientists with a powerful tool to understand dynamic biological responses and the discovery of cures for most difficult diseases.”
Dr. Walker Inman, CEO of Lucid Scientific, expressed gratitude for the funding, highlighting its significance in advancing the Resipher product line. “This financing enables Lucid to continue improving the Resipher line of products for researchers and drug discovery teams whose work directly impacts human health. We are excited to have Ehsan and IAG join our team, as they provide a wealth of experience and help position Lucid to achieve our goals.”
Lucid Scientific, headquartered in Atlanta, GA, operates at the Advanced Technology Development Center (ATDC) and is supported by a combination of public and private sources, including IAG Capital Partners, Dynamk Capital, and the GRA Venture Fund.
IAG Capital Partners, based in Charleston, South Carolina, collaborates with innovative leaders to develop companies that have the potential to transform industries.
Dynamk Capital is a growth equity and venture capital firm specializing in life sciences industrials. It focuses on identifying companies with disruptive technologies, tools, and services that span the entire biopharma continuum, from discovery and development to the manufacturing of biotherapeutics, including cell & gene therapies and vaccines.
The GRA Venture Fund is a public-private venture capital fund that invests in research-driven startups based in Georgia. It provides seed, early-stage, and mid-stage investments in companies, with fund investors including the State of Georgia, private individuals, corporations, and foundations.