# LabMinds

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

- Industry: Hardware
- Headquarters: Somerville, US
- Website: www.labminds.com
- Latest round: Seed (Jul 23, 2010)
- Investors on record: 1

## About

LabMinds, Inc. develops innovative automation solutions for laboratories, focusing on enhancing workflow efficiency and accuracy in buffer preparation using advanced technology.Founded in 2009 and headquartered in Somerville, US, LabMinds, Inc. specializes in laboratory automation. In December 2022, the company was acquired by Accroma Labtec Ltd. to expand its market potential. The CEO, Jeff Caputo, leads the firm, which has successfully completed five deals since its inception, with the latest funding round raising USD 6.40 mn from investors including Red Deer Capital and Waters Corporation.LabMinds, Inc. offers the accroma® bufferPrep System, an automated solution designed to streamline the preparation of laboratory buffers. This system connects up to 26 chemicals, allowing for customizable buffer solutions. The cloud-based software enables inventory management and ordering from any device, enhancing operational efficiency for clients, which include pharmaceutical companies, research institutions, and biotechnology firms across Europe, North America, and select Asian markets.LabMinds, Inc. generates revenue through direct sales of the accroma® bufferPrep System and associated consumables to B2B clients in the pharmaceutical and biotechnology sectors. The pricing structure includes a one-time purchase for the system and ongoing sales of consumables and service contracts that provide technical support and software updates, aiming to ensure optimal operational effectiveness for clients.Following its acquisition in December 2022, LabMinds, Inc. plans to leverage its new resources to expand its customer base. Recent funding from its latest deal amounting to USD 6.40 mn will support efforts to enhance product offerings and penetrate new markets, focusing on increasing reach within Europe and North America by 2024. The company is actively designing new products to better serve laboratory automation needs.

## Funding rounds

- Seed, Jul 23, 2010 — Oxford Technology Management

## Investors

- Oxford Technology Management (https://capitalatlas.ai/funds/oxford-technology-management) — Seed