MANTA Instruments has held the first closing of a Series A financing round led by Joint Polish Investment Fund (JPI Fund), a new Life Science Venture Capital Fund co-financed by the Polish National Centre for Research and Development under the BRIdge VC program.
MANTA is a privately held company producing ViewSizer 3000, the first scientific instrument to deliver accurate and reproducible nanoparticle concentration and size distribution data. JPIF Fund invests worldwide, in early and mid-stage innovative Life Science companies lead by Polish people, located in Poland or, based on IP generated by Polish nationals. The Triton Technology Fund, MANTA's seed round investor, also participated in the round.
In conjunction with the Series A fund raising, Dr. Axel Polack, JPI Fund General Partner was appointed to the Board of MANTA Instruments.
The Series A funds will be used by MANTA to commercialise ViewSizer 3000, the first scientific instrument capable of providing accurate nanoparticle concentration data. ViewSizer 3000 is also able to generate reproducible size measurements for nanoparticles of mixed sizes and to reliably measure changes in nanoparticle size over time. The ViewSizer 3000, with all these characteristics in a single instrument, provides MANTA's customers with compelling value propositions relative to the legacy instruments. Prior to launching ViewSizer 3000, MANTA successfully completed a beta test program with 10 partners.
ViewSizer 3000 is based on MANTA's pedigreed technology developed around the original IP from the University of California in San Diego (UCSD), the development of which was led by Dr. Dariusz Stramski and Dr. Kuba Tatarkiewich at the Ocean Optics Research Lab at the Scripps Institution of Oceanography, UCSD.
Rick Cooper, MANTA Instruments CEO, says: "We are delighted to have received this financial support from JPI Fund. JPI Fund's knowledge and experience make them trusted advisors as we take a next critical step in the growth of MANTA, the commercial launch of ViewSizer 3000. We believe its unique properties will enable MANTA to become a leading instrument producer globally in the rapidly developing nanotechnology market."
Dr Axel Polack, JPI Fund General Partner, says: "We are pleased to have made our first investment in MANTA Instruments whose breakthrough pedigreed technology was developed by Dr. Dariusz Stramski and Dr. Kuba Tatarkiewicz, both leading Polish scientists. We have great confidence in the potential of ViewSizer 3000 and expect it to become a key tool for companies around the world working in the field of nanoparticles."
Leszek Grabarczyk, Deputy Director of the National Centre for Research and Development, says: "With our BRIdge VC program we take the necessary risk to support innovation. The projects we decided to invest in together with experienced business partners are indeed innovative but also early stage. We are confident that the involvement of private partners will bring the relevant know-how and guarantees an effective use of funding for this purpose".
