Labviva Founder & CEO Siamak Baharloo
Labviva, a Singapore- and US-based AI-driven life sciences digital marketplace, has secured US$20 million in Series A financing led by Biospring Partners.
Existing investors Senator Investment Group, B Capital, and Glasswing Ventures co-invested.
The Series A funding brings the total amount raised since inception to US$30 million.
The startup will use the funding to accelerate the deployment of Labviva’s platform at several global pharmaceutical and academic customers. It will also expand its global footprint and launch new and complementary product lines.
Labviva’s SaaS marketplace unifies the interface for product discovery and procurement and connects suppliers and purchasers, allowing scientists to make better purchasing decisions.
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The B2B platform enables life sciences and research organisations to manage corporate purchasing and procurement to accelerate life science research.
Driven by Artificial Intelligence, Labviva’s platform integrates directly with leading procurement systems, such as SAP Ariba, JAGGAER, Oracle Procurement Cloud, Microsoft Dynamics 365, and Coupa, to shorten implementation times and reduce the risk of research delays.
“Labviva helps manage a company’s spending, giving customers back control, with real-time purchasing insights to realize significant hard cost savings while providing the scientific and technical staff with the product content and scientific insight to improve the speed and quality of their product selection process,” said Siamak Baharloo, CEO and Co-Founder, Labviva.
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