Multiply Labs' Series B Closes at $75M, Led by Patrick Soon-Shiong
The San Francisco company has now raised more than $100 million since it was founded in 2016.
Multiply Labs, a San Francisco-based physical AI company that automates some of the most complex manufacturing processes in medicine, has raised a $75 million Series B, the company announced Wednesday.
The round was led by Dr. Patrick Soon-Shiong with NantWorks. It drew new investors AstraZeneca, Lingotto, Teradyne, and Strange Ventures, alongside returning backers Casdin Capital, Lux Capital, Fifty Years, Ora Global, and Founders Fund, among others.
The new capital brings Multiply Labs' total raised to over $100 million since its founding in 2016 — a figure that puts the nearly decade-old company past the nine-figure mark as investors look for automation plays in pharmaceutical production.
Multiply Labs frames its work around "physical AI," positioning its technology against manufacturing processes the company describes as among the most complex in medicine. That framing places it in a category of robotics and AI vendors aiming at biological manufacturing, a space that has drawn interest both from generalist venture firms and from strategic investors with direct stakes in drug production.
That mix is visible in the cap table. AstraZeneca, one of the world's largest pharmaceutical companies, joins as a new investor in the Series B, while NantWorks — the holding company associated with Soon-Shiong — leads the round. Teradyne, a publicly traded automation and robotics supplier, also participated as a new backer, giving the round a combination of pharmaceutical, industrial automation, and financial investor representation.
The returning investors span a similarly broad range: Casdin Capital, Lux Capital, Fifty Years, Ora Global, and Founders Fund all re-upped. Lux Capital and Founders Fund are established venture firms, Casdin and Ora Global have healthcare-focused investment profiles, and Fifty Years invests in companies with large-scale impact ambitions.
The company did not disclose the valuation at which the Series B was raised, nor did it specify how the proceeds would be allocated.
Multiply Labs' $75 million round arrives amid sustained investor appetite for automation in pharmaceutical and biologics production, where the participation of a major drugmaker and a robotics supplier in the same round suggests the company is being evaluated as much for industrial deployment as for its AI capabilities.
With more than $100 million raised since 2016, Multiply Labs now sits among the more heavily capitalized private companies working at the intersection of robotics and medicine manufacturing.
Founders
- Fred PariettiCEO
- Alice MelocchiCSO
- Joe WilsonCo-founder
- Tiffany KuoCo-founder
Press
About the Company
Robotic production capacity for the pharma manufacturing industry
The traditional manufacturing process for individualized drugs is extremely slow and expensive, because it is based on manual labor. At Multiply Labs, we believe that robotics is the only way to truly scale the production of individualized drugs - finally providing these life-saving therapies to the millions of patients who need them. We develop cloud-controlled modular robotic systems that manufacture individualized drugs, and we deploy these systems in the facilities of our pharma customers. This is pharma robotics as a service: we sell the robotic production capacity that our customers need to scale their next-gen individualized drugs.