Baebies Completes $13M in Equity Financing

Funding Rounds

▤ Summary

Baebies, Inc., a Durham, NC-based developer of products using technologies to advance newborn screening worldwide, completed $13m in equity financing.Backers included Rex Health Ventures, Charleston Angel Partners, Dumac, LLC (managers of the Duke endowment), Cunning Capital, Triad, LLC, the Duke Angel Network and a loan from the North Carolina Biotechnology Center.Led by Vamsee Pamula, president and co-founder, and Richard West, CEO, Baebies developed a nimble bioassay automation platform to rapidly perform multiplex enzymatic assays and other tests.The company licensed its core technology, digital microfluidics, from Illumina.In addition to a technology license in newborn screening that does not include sequencing, Baebies also received equipment, contracts, and other consideration in exchange for a share of ownership in the new company.

$ Funding

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Amount $13.0M Total raised
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Date July 28, 2015 Announcement date
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Investors Rex Health Ventures, Charlotte Angel Fund Lead investors
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Company http://www.baebies.com Funded company

▥ Classifications

industries
Engineering
applications
No applications detected

◇ AskAI Classifications

Labels
Healthcare Software Diagnostic Software SaaS

▦ Linked Companies

Baebies
$5M to $10M