# Nicoya Lifesciences

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nicoya-lifesciences

- Industry: Biotechnology
- Headquarters: Kitchener, Canada
- Website: www.nicoyalife.com
- Total disclosed funding: $28M
- Latest round: Series A (Dec 16, 2021)
- Investors on record: 8

## About

Nicoya Lifesciences Inc. is a biotechnology company focused on advancing biosensor technology to enhance biomolecular analysis, providing real-time insights into binding interactions for researchers in various scientific fields.Nicoya Lifesciences Inc., founded in 2012 in Kitchener, Canada, specializes in advanced biosensor technology. The company was co-founded by Paulo Simas and Ryan Denomme. To date, Nicoya has successfully raised USD 20.00 mn in a Series A funding round on December 16, 2021, led by Whitecap Venture Partners and supported by investors including Agilent Technologies and BDC Investments. Their total funding raised stands at USD 20.00 mn.Nicoya Lifesciences Inc. specializes in advanced biosensor technology, primarily offering its flagship products, the OpenSPR and Alto systems, which integrate surface plasmon resonance (SPR) technology with digital microfluidics. These instruments are designed for real-time, label-free analysis of biomolecular interactions, providing researchers with high-quality binding kinetics and affinity data directly on their benchtops. The company serves a diverse customer base, including over 600 research laboratories and academic institutions worldwide, particularly in the fields of drug discovery, antibody characterization, and vaccine development. Their products are utilized in various global markets, including North America, Europe, and Asia, focusing on institutions engaged in biochemistry, molecular biology, and related scientific research. By enhancing the efficiency and accessibility of SPR technology, Nicoya addresses the critical need for reliable data in scientific research and therapeutic development.Nicoya Lifesciences generates revenue through the sale of its specialized instruments and associated software solutions, structured primarily as direct-to-consumer transactions with research institutions and labs. The pricing mechanism involves one-time purchases of the OpenSPR and Alto systems, along with potential recurring revenue from software licenses and consumables required for ongoing experiments. The company’s transaction model includes options for clients to engage in subscription-based access to software updates and technical support services that enhance the functionality of their instruments. By delivering innovative solutions for high-stakes research environments, Nicoya fosters long-term relationships with its users, ensuring that they remain at the forefront of technological advancements in biological research.In December 2021, Nicoya Lifesciences Inc. raised USD 20.00 mn in Series A funding, which will be used to further develop and commercialize Alto™, a new surface plasmon resonance (SPR) platform aimed at digitalizing label-free protein characterization. The company plans to expand into new international markets, focusing on regions not previously targeted. This strategic development will seek to position Nicoya as a key player in the biosensor technology market.

## Funding rounds

- Series A, Dec 16, 2021, $20M — Whitecap Venture Partners, Agilent Technologies, MaRS Investment Accelerator Fund, BDC Investments, Export Development Canada, Garage Capital
- Series A, Jan 14, 2020, $7.7M — Whitecap Venture Partners, MaRS Investment Accelerator Fund, The Laurier Startup Fund, University of Waterloo Student Venture Fund, Garage Capital

## Investors

- Whitecap Venture Partners (https://capitalatlas.ai/funds/whitecap-venture-partners) — Series A
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Series A
- The Laurier Startup Fund — Series A
- University of Waterloo Student Venture Fund — Series A
- Garage Capital (https://capitalatlas.ai/funds/garage-capital) — Series A
- Agilent Technologies — Series A
- BDC Investments — Series A
- Export Development Canada — Series A