📝 Scispot raises $8M

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Kitchener-Waterloo-based life sciences startup Scispot has raised $8 million in an all-equity Series A funding round led by Washington, D.C.-based Avenue Growth Partners, with participation from existing investor Breakwater Ventures, bringing its total funding to nearly $10 million USD. Founded five years ago by brothers Guru and Satya Singh, the Y Combinator graduate has developed an AI-powered operating layer that centralizes and automates fragmented lab processes like experiment planning, documentation, and inventory tracking for over 125 life sciences facilities. While Scispot initially struggled when AI was viewed as a luxury, demand has surged dramatically since late 2022 as labs rush to become AI-ready, prompting the 30-person firm to use this fresh capital to hire forward-deployed AI engineers and scientists to help scale its technology toward a broader vision of automated, "self-driving labs" built out of Canada.

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