MEGAROBO Closes its Series B Round of US$65 M Just Half a Year After Raising its Series A
29 June, 2021
MEGAROBO, a Gobi Partners portfolio company, announced on May 28, 2021, that it has secured US$65 M in a new round of funding led by WuXi AppTec and saw participation from existing shareholders Joy Capital, Sinovation Ventures, Matrix Partners China, Bosch Venture Capital, Shanghai Mingshi, and Liando U Valley.
This new funding means MEGAROBO has raised a total of US$125 M in just 6 months since November 2020, receiving interest from many top strategic and financial investment institutions as it continues its mission to steadily scale and grow its business.
The company will be utilizing these new funds to continue product R&D and technology upgrades in life sciences intelligent automation, as well as to further develop its capabilities and strategic synergies with WuXi AppTec. Additionally, MEGAROBO’s Kun Peng laboratories will upgrade its facilities with enhancements that will truly push the boundaries of next-gen biological R&D to position the company as an industry leader in the life sciences.
Image: MEGAROBO Blood Sample Separation System
Its partner and financier, WuXi AppTec, provides new drug R&D and production services to the biopharmaceutical industry globally and is committed to promoting the development of new drugs and breakthrough treatment options for patients. In line with their vision of “let there be no treatment too complex, no disease incurable,” the company’s Empowerment Platform is carrying out innovative R&D projects for over 4,400 partners across 30 countries worldwide. Their collaboration with MEGAROBO will thoroughly explore the potential of intelligent automation technology in relation to the biology, chemistry, and other medical industries.
“We are pleasantly surprised to see that the intelligent automation of life sciences is an innovation that is trending globally. MEGAROBO has been in the life sciences field since its inception and has a good grasp of the tech required and plenty of insights into this industry. As such, we at WuXi AppTec are happy to collaborate with them to further empower the life sciences industry. As automation tech develops and production scales, the development of new drugs will accelerate and more patients worldwide will benefit,” said Zhengguo Wu, Vice Chairman and Global CIO of WuXi AppTec.
The team at MEGAROBO has deep insights into the crucial role intelligent automation plays in reforming the life sciences. Based on this expertise, the company has two business segments: intelligent automation products and scientific research services. At present, its clientele includes several notable entities in the life sciences field and has delivered its products to these customers, helping them to improve the efficiency of their operations and production capacity. In sectors such as antibody drugs, cell and gene therapy, as well as vaccine R&D, MEGAROBO’s system has improved the efficiency of R&D processes and heightened their market competitiveness.
Accelerating Artificial Intelligence
In April 2021, the company launched its innovative IntellVega tech platform, which integrates intelligent control, machine learning, and deep learning, and offers a customizable AI algorithm library to its clients.
It also utilizes business logic to speedily deploy tasks, diagnose, and analyze problem areas, which it detects using artificial intelligence and a small sample set; these capabilities help to solve key problems and creates a leading domestic advantage.
Thus far, the IntellVega tech platform has become known as a leading tool in the industrial testing sector, and MEGAROBO is now exploring how it can be utilized further in the life sciences field as well as other industries.
Image: MEGAROBO Life Science-Automated High-throughput Drug Screening System
MEGAROBO’s Kun Peng Laboratories Continue to Explore Life Sciences Intelligent Automation
According to Dr. Chengzhi Wang, Chief Scientist at MEGAROBO, the Kun Peng laboratories were established to find ways that automation and intelligence technology could disrupt the traditional processes of the “Design-Build-Test-Learn (DBTL) cycle of life sciences R&D. Currently, there is a huge gap in the flux of upstream and downstream biological experiments. For instance, many target molecules can be quickly obtained by mining OMICS data, but the verification of these targets can only be carried out independently, which creates inefficiencies. Only when these bottlenecks are cleared (via the use of automation technology) can the life sciences industry truly be considered “big data science”. The Kun Peng laboratories have already tested out many automated transformations on important basic biological function units such as cell culture, molecular element construction, nucleic acid extraction, and phenotype detection. These modular programs were not only tested in real, large-scale biological experiments, but have also been deployed for use in cutting-edge life sciences research.
Image: MEGAROBO Life Sciences Automation System
Yuqing Huang, Founder and CEO of MEGAROBO said, “The urgent need for intelligent automation in the field of life sciences has created more breakthrough opportunities for MEGAROBO, but also sets higher expectations. The company is accelerating the deployment of AI and exploring the industry’s pain points in depth so that we can generate valuable innovations for the life sciences and other segments. MEGAROBO is honored to be in a strategic partnership with WuXi AppTec, and I firmly believe that together, we will disrupt the life sciences industry through limitless imagination and creativity.”
Vanessa Lai is a part of Gobi’s Internship Program based in Hong Kong, where she carries out public relations and creative functions with a Greater Bay Area focus. She is a published author and graduate of the University of Toronto with a B.A. (Hons) in Communications, IT and
About Gobi Partners
Gobi Partners is one of the longest-standing venture capital firms with a Pan-Asian presence across North Asia, South Asia, and ASEAN with over US$1.2 billion in assets under
management (AUM). The firm, headquartered in Kuala Lumpur and Shanghai, supports entrepreneurs from the early to growth stages and focuses on emerging and underserved
Founded in 2002, Gobi has raised 13 funds to date, invested in over 270 startups, and has grown to 13 locations, across Bangkok, Beijing, Dubai, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, and Singapore.