Labviva Secures $25M to Boost AI-Powered Life Sciences Procurement

Labviva, a Boston-based startup specializing in AI-powered life sciences procurement, has secured $25 million in new funding. This investment is aimed at accelerating product innovation, enhancing marketing and customer support, and expanding internationally.

Founded in 2017, Labviva offers a digital marketplace that connects researchers with suppliers of reagents, chemicals, consumables, and instrumentation. The platform enhances visibility and insight into the life sciences supply chain, covering processes and systems involved in sourcing, manufacturing, distributing, and managing materials and products used in research, diagnostics, and healthcare.

Labviva’s AI-powered platform aggregates 90% of all life science suppliers, providing users with instant access to a large pool of sellers, ranging from major suppliers to small, local, and green-certified businesses. This comprehensive coverage allows customers to quickly compare products and prices from different vendors based on company-specific pricing and rich product content. As a result, users can save hours of manual research, reduce research and development costs, and avoid gaps in inventory replenishment.

The recent funding round, classified as Series B, was led by 53 Stations, with participation from previous investors Biospring Partners LP, B Capital Group Management LP, and Glasswing Ventures. Jason Pritzker, co-founder and Managing Partner of 53 Stations, will join Labviva’s board of directors.

Labviva has been focused on building close customer and supplier relationships and deploying solutions that drive instant, long-term results. This strategy has positioned the company for significant growth. Including the new funding, Labviva has raised a total of $50.8 million to date.

The company’s mission is to accelerate the pace of life science research by connecting suppliers, purchasing departments, and scientists through AI. Labviva delivers supply chain transparency that transforms how laboratories manage purchasing, supply chain tracking, and inventory replenishment. The platform integrates with existing purchasing software, providing actionable insights for better decision-making and complete transparency in the supply chain.

Labviva’s leadership team has extensive experience in procurement and eCommerce within the life sciences industry, having worked with leading companies such as ThermoFisher Scientific, MilliporeSigma, and Sartorius. The company’s founder and CEO, Siamak Baharloo, has a background in genetic research and holds a PhD in human and medical genetics from the University of California San Francisco (UCSF).

The funding will be used to further develop Labviva’s platform, expand its global footprint, and launch new and complementary product lines. The company aims to revolutionize the life sciences procurement industry by providing a seamless and efficient purchasing experience for researchers and suppliers alike. With its AI-powered platform, Labviva is poised to make a significant impact on the life sciences supply chain, enhancing the speed and efficiency of research and development processes.

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