# Emulate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/emulate

- Industry: Biotechnology
- Headquarters: Boston, US
- Website: www.emulatebio.com
- Total disclosed funding: $833M
- Investors on record: 10

## About

Emulate, Inc. specializes in organ-on-a-chip technology that enhances drug development and biological research through innovative modeling systems.Founded in 2014 and headquartered in Boston, US, Emulate, Inc. develops organ-on-a-chip solutions to advance drug research. The company was founded by Daniel Levner and has attracted significant investment, raising USD 57.49 mn in Series E funding in September 2021 from Northpond Ventures and Perceptive Advisors. The total amount raised to date is USD 57.49 mn, with a current valuation of USD 364.39 mn.Emulate's flagship product, the AVA™ Emulation System, enables high-throughput testing with up to 96 Organ-Chip samples, streamlining the evaluation of drug candidates. The Zoë-CM2® Culture Module facilitates the creation of functional human biological models, aiding in drug target identification and validation. Their offerings are utilized by various stakeholders, including pharmaceutical companies and academic institutions, for applications in drug discovery and toxicology assessments.Emulate generates revenue through direct sales of its organ-on-a-chip systems, consumables, and ongoing support services. Clients engage in purchasing agreements that may include scientific training and technical support, reflecting a blend of one-time sales and service agreements as they expand their use of these technologies in research.Following the Series E funding round in September 2021, Emulate, Inc. plans to scale up its research and development to introduce new organ-on-a-chip models focused on immunology, neuroinflammation, and tumor modeling. The company is targeting expansion into new markets in Europe and Asia by 2023, leveraging the recent funding of USD 57.49 mn to enhance its development capabilities.

## Funding rounds

- Round, Sep 17, 2026, $700M — Index Ventures, Lightspeed Venture Partners
- Series E, Sep 7, 2021, $57M — Perceptive Advisors, Northpond Ventures
- Series C, Jun 18, 2018, $36M — Founders Fund
- Series B, Mar 28, 2016, $28M — +ND Capital, ATEL Capital Group, Cedars-Sinai Health System Defined Benefit Retirement Plan, Awaken Capital, ALS Finding a Cure
- Series A, Jul 28, 2014, $12M — +ND Capital, Cedars-Sinai Health System Defined Benefit Retirement Plan

## Investors

- +ND Capital (https://capitalatlas.ai/funds/nd-capital) — Series A, Series B
- Cedars-Sinai Health System Defined Benefit Retirement Plan — Series A, Series B
- ATEL Capital Group (https://capitalatlas.ai/funds/atel-capital-group) — Series B
- Awaken Capital (https://capitalatlas.ai/funds/awaken-capital) — Series B
- ALS Finding a Cure — Series B
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series C
- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series E
- Northpond Ventures (https://capitalatlas.ai/funds/northpond-ventures) — Series E
- Index Ventures (https://capitalatlas.ai/funds/index-ventures)
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners)