Cambridge tech startup nets $41 million to wire up labs

Cambridge-based Elemental Machines, a developer of data-tracking sensors and software program for laboratory gear, has raised $41 million in new funding to develop its operations within the life sciences market.

The startup, based in 2015, makes expertise that connects present lab gear to the cloud. The objective? To equip laboratory areas with extra environment friendly information assortment, simpler entry to that information, and improved sharing talents.

The corporate’s tech platform helps technicians and scientists monitor key lab metrics like temperature, humidity, mild, and vibration from their desktop or cell system. If there’s an issue with the gear utilized in an experiment, the platform can “alert customers remotely when it’s about to fail,” in response to the company. Elemental stated it additionally permits lab administrators and managers to enhance operational effectivity, services and asset administration, and manufacturing outcomes.

Sridhar Iyengar, founder and CEO of Elemental Machines, sees development alternatives in varied sectors of the life sciences business, after the corporate’s newest – and largest – spherical of funding.

“If you happen to look broadly inside life sciences, there’s different elements, different departments, that we haven’t actually addressed,” Iyengar stated in an interview. “Issues like pilot manufacturing or manufacturing. There’s additionally several types of labs – proper now we’re predominantly in [research and development] labs. And so we will develop into medical labs and high quality management labs.”

The corporate has over 500 prospects within the life sciences business and plans to make use of the brand new funds to focus on gross sales in analysis, medical, and high quality management laboratory operations, a $60 billion annual market. Elemental may even use the cash to develop in associated fields equivalent to manufacturing, supplies science, meals tech, agriculture tech, and different data-focused industries.

A number of the corporations utilizing Elemental Machines’ applied sciences embrace PerkinElmer, the Waltham-based life sciences agency, and LabCentral, the shared laboratory house which opened its biggest site yet in Kendall Sq. final month.

The funding spherical was led by Sageview Capital and co-led by Omega Enterprise Companions, whereas Gutbrain Ventures and Digitalis Ventures additionally participated.

“I see us increasing … by way of business funding, but in addition expertise and product funding and product innovation,” stated Iyengar. “We’ve a protracted roadmap of merchandise and options that we need to construct that permits us to tug information and connect with all sorts of completely different techniques.”

Collin Robisheaux might be reached at collin.robisheaux@globe.com. Observe him on Twitter @ColRobisheaux.