Just as New York City is the undisputed hub for advertising, Boston is a known hotbed for biotechnology startups. This week, sixteen biotech firms raised venture funding, yet just the $8M Series B for iSpecimen of Lexington went to a Massachusetts firm. Biocartis, a molecular diagnostics company from Lausanne, Switzerland raised the largest round with a €64.5M Series F from PMV Tina Fund, Hitachi Chemical Diagnostics and Johnson & Johnson. The company hopes to finance its rollout of new oncology and infectious disease diagnostic tools.
In another encouraging development, Sonendo of Laguna Hills raised $35M led by Meritech Capital Partners to sell sonic-energy devices to take pain out of root-canal procedures. Of the total $214M+ raised, a trio of European firms – AM Pharma (Bunnik, Netherlands), Poxel (Lyon, France), Alizé Pharma (Écully, France) accounted for almost $36M.
In the third biggest market increase week over week, analytics fundings jumped from just three to six this week. European firms were the main catalyst where Amplidata of Belgium took a $10M Series E from Western Digital and London’s truedash scored its first seed round. In 2014, analytics funding rounds are averaging close to 40 per month, after just 27 total rounds in August. The six rounds this week are still relatively low for the consistently strong market.
To keep track of all the daily funding updates, sign up for the CrunchBase Daily Newsletter.
Photo via Flickr user Chris Parker2012