Lithuanian Atrandi Biosciences raises $25M in Series A

Vilnius-based biotech company Atrandi Biosciences has raised $25M in a Series A led by Lux Capital. Vsquared Ventures, Practica Capital, Metaplanet and GRIDS Capital also participated in the financing. 

Atrandi Biosciences was established in Lithuania in 2018 by Juozas Nainys, Karolis Leonavičius, Dalius Kučiauskas, and Linas Mažutis. The company develops innovative microfluidic solutions for life sciences, which the company calls droplet microfluidics technology.

The funding will allow Atrandi Biosciences to enter the US market, continue development of its microfluidic platforms and launch new products. The company now offers platforms such as Flux, Styx and Onyx, which are used in areas ranging from microbial genomics to fluorescent cell detection.

In 2021 Atrandi Biosciences received €1M from the Lithuanian fund Practica Capital. In 2023, the company raised €4.5M from lead investor German VC Vsquared Ventures. Investors from the previous round, Lithuanian fund Practica Capital and an Estonian fund Metaplanet.

Lux Capital is an American venture capital firm founded in 2000 that specializes in early stage investments in high tech, life sciences and advanced technology. 

Practica Capital is a venture capital company that primarily supports technology startups in the Baltic States, providing them with practical assistance at all stages of development. The fund was founded in Lithuania in 2011. 

Metaplanet is an Estonian venture capital company founded in 2011 by Jaan Tallinn, co-founder of Skype and Kazaa. The fund invests in artificial intelligence, biotechnology and other promising technologies and supports high-impact startups around the world, including in Central and Eastern Europe. 

Vsquared Ventures is a venture capital fund founded in 2020 in Munich, Germany. The company provides funding and support to startups developing innovative technologies such as quantum computing, green energy solutions and cognitive robotics. 

GRIDS Capital is a venture capital fund specializing in deep technology. It invests in artificial intelligence, robotics, life sciences, technical infrastructure, advanced materials and other areas. The fund was founded in 2016 in São Paulo, Brazil.