# Protedyne

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

- Industry: Biotechnology
- Headquarters: Windsor, US
- Website: www.protedyne.com
- Total disclosed funding: $22M
- Latest round: Series D (Aug 23, 2005)
- Investors on record: 7

## About

Protedyne Corporation develops advanced robotic systems aimed at optimizing laboratory automation, particularly in diagnostic testing, enhancing both efficiency and accuracy in patient outcomes.Founded in 2000 in Windsor, US, Protedyne Corporation focuses on laboratory automation solutions. In May 2007, Laboratory Corporation of America acquired Protedyne for an undisclosed amount. The company has executed a total of 4 deals with the most recent deal occurring on May 1, 2007. The latest funding round, Series D, raised USD 10.00 mn, matching the total amount raised.Protedyne Corporation specializes in developing and manufacturing advanced robotic systems to enhance efficiency in laboratory automation for diagnostic testing. Their flagship products, the Propel and Matrix systems, integrate cutting-edge diagnostic testing devices, facilitating high-throughput analysis and operating within Labcorp's diagnostic testing laboratories globally. These systems cater to diverse clients, including healthcare providers and research institutions, utilizing robust robotic hardware and sophisticated software for comprehensive data management and process tracking.Protedyne Corporation generates revenue primarily from business-to-business transactions, supplying robotic systems like the Propel and Matrix to diagnostic laboratories and healthcare institutions. Their financial model is based on direct sales of these systems tailored for client needs, supplemented by service contracts for maintenance and software updates, promoting long-term partnerships for consistent revenue streams. The company’s affiliation with Laboratory Corporation of America enhances its market reach.Protedyne is focused on expanding its product line with new advancements in robotic automation, although specific release dates have not been disclosed. The company is also aiming to penetrate additional markets in Europe and North America by leveraging recent funding from the Series D round, which raised USD 10.00 mn. This funding will support the continued development of their systems and enhance their operational capabilities to meet growing market demands.

## Funding rounds

- Series D, Aug 23, 2005, $10M — MVP Capital Partners, Sprout Group, LRVHealth, Allen & Company, BlueHub Capital, Village Ventures, Qiagen
- Series B, Oct 15, 2001, $12M — MVP Capital Partners, Sprout Group, LRVHealth, BlueHub Capital

## Investors

- MVP Capital Partners (https://capitalatlas.ai/funds/mvp-capital-partners) — Series B, Series D
- Sprout Group (https://capitalatlas.ai/funds/sprout-group) — Series B, Series D
- LRVHealth (https://capitalatlas.ai/funds/lrvhealth) — Series B, Series D
- BlueHub Capital (https://capitalatlas.ai/funds/bluehub-capital) — Series B, Series D
- Allen & Company — Series D
- Village Ventures (https://capitalatlas.ai/funds/village-ventures) — Series D
- Qiagen — Series D