Copenhagen-based Fida Biosystems, a life science tools company, has raised € 5 million from Danish EIFO and Swedish venture fund Fåhraeus Startup and Growth (FSG) to further accelerate growth. FSG joins as a new investor, while EIFO strengthens its commitment to the company.
Fida Biosystems has developed a biophysical analysis platform for molecular and nanoparticle characterization to be conducted more quickly and accurately, ultimately speeding up the development of new medicines.
The new investment is an extension of a previous series A round and is intended to prepare Fida Biosystems for a future Series B growth round, paving the way for further expansion and scaling.
“With FSG’s focus on Scandinavian companies at the cross-section of Technology and Life Science we are proud to invest in FidaBio and its unique first principle technology for biophysical analysis for the Pharma and Biotech industry. We look forward to work hard with the Fidabio team and EIFO as lead investors in this next phase of growth”
said Linus Wiebe, General Partner and Managing Director at FSG
Over the past year, Fida Biosystems has doubled its revenue, and with more than 100 instruments sold, it is seeing increased adoption across industry and leading research institution.
“As we close a year marked by more than double growth, we are pleased to complete a new round led by FSG, with continued support from EIFO and our other investors. With our amended team, we are confident that we are in the best possible position to continue supporting researchers in developing faster and better drugs – and to further accelerate the company’s growth,”
said Brian Sørensen, CEO of Fida Biosystems.
EIFO first invested in Fida Biosystems in 2019 and this follow-on investment strengthens EIFO’s strategic ambition for Denmark’s position in transformative technologies and life science.
“Fida’s technology aligns perfectly with EIFO’s focus on innovation that drives growth. We have strong confidence in the team and are pleased to support the company’s further expansion and scaling, reinforcing Denmark’s role in life science,”
said Tonni Bülow-Nielsen at EIFO.
