Upkara, a pioneering biomedical technology firm, today announced a successful $9 million Series A funding round.
Notable investors included businessman and philanthropist Bill Parfet and industry veteran Paul Meister, former Chairman of Thermo Fisher Scientific.
Upkara’s patented technology aims to revolutionize the biomedical industry by addressing and eliminating cold-chain challenges.
By facilitating ambient temperature storage and transportation of therapeutic and research tools, the company’s cutting-edge biopreservation technology has significant implications for reagents, biobanking, human health, and can greatly enhance accessibility to essential therapeutics and research tools.
The company is currently working with reagent companies to incorporate its technology into manufacturing processes.
The Upkara process stabilizes biomolecules, enabling them to be stored and shipped at ambient temperatures.
This reduces waste, boosts efficiency, and improves sustainability. Upkara-stabilized reagents offer substantial cost savings for manufacturers and are more appealing to customers.
Founder and Professor Pravansu Mohanty expressed gratitude for the continued support of Bill Parfet, stating, “His vast experience and expertise in the industry have been vital in helping us bring our technology to market.”
Paul Meister also acknowledged Upkara’s potential, stating that the technology could “improve sustainability, reduce waste, and increase research efficiency across the entire life science’s industry.”
With the additional investment, Upkara is set to accelerate its growth, further develop and commercialize its groundbreaking technology, and make a more significant impact in the biomedical technology and biopreservation sector.
BusinessNewsAsia