Reshape Biotech

Company Overview

Reshape Biotech is a Danish company that builds lab robots to automate everyday tasks of microbiologists, from filling plates to analyzing images. Founded in 2018, the company is based in Copenhagen but operates globally. Reshape Biotech aims to accelerate biotechnological research and development by harnessing automation and digitalization to scale experimentation and empower cross-disciplinary collaboration.

Products Overview

Reshape Biotech’s main product is the Reshape Microbiology Platform, which consists of:

1. Robotic plate imaging system: An automated system for capturing high-resolution images of microbial cultures over time.

2. AI-enabled analysis platform: Software that uses machine learning to analyze the images and extract meaningful data.

3. Cloud-based data storage and access: A system for securely storing experimental data and allowing easy collaboration.

The platform is designed to automate various microbiology assays, including:

• CFU (Colony Forming Unit) counting
• Radial growth rate measurement
• Seed germination analysis
• Fluorescence assays
• Antagonistic assays
• Color assessment
• Leaf assays
• Yogurt mold quantification

These automated solutions aim to dramatically accelerate time to market for companies in industries such as agriculture, food & ingredients, and industrial biotechnology.

Founding Team

The management team of Reshape Biotech consists of:

1. Carl-Emil Grøn - Co-founder & CEO
2. Daniel Storgaard - Co-founder and CTO
3. Magnus Nyborg Madsen - Co-founder and CRO

The founders’ backgrounds span systems engineering, mechatronics, cloud infrastructure, machine learning, and biotech applications.

Problem and Market Fit

Reshape Biotech addresses the need for accelerating biotechnological research and development. Traditional lab processes are often manual, time-consuming, and prone to human error. By automating these processes, Reshape aims to:

1. Increase efficiency and throughput in laboratories
2. Improve data quality and reproducibility
3. Free up researchers’ time for more complex tasks
4. Enable 24/7 experimentation
5. Facilitate easier collaboration and data sharing

The company’s solutions are particularly relevant in industries where microbial research is crucial, such as agriculture, food & ingredients, and industrial biotechnology.

Business Model

While not explicitly stated, Reshape Biotech likely operates on a B2B model, selling their robotic systems and software platforms to research laboratories, biotechnology companies, and academic institutions. They may also offer ongoing support, maintenance, and software updates as part of their service.

Funding and Runway

Reshape Biotech has secured significant funding:

1. Pre-seed round: $1 million (reported in Danish media)
2. Seed round: $8.1 million (reported as the largest seed round in Danish history)
3. Recent funding round: $20 million (reported by TechCrunch in April 2024)

The total known funding to date is at least $29.1 million. The company’s runway is not explicitly mentioned, but the substantial recent funding suggests they likely have a significant runway for continued growth and development.

Competitive Landscape

While specific competitors are not named, Reshape Biotech operates in the competitive field of lab automation. Their unique selling points appear to be:

1. Focus on microbiology-specific applications
2. Integration of robotics with AI-powered image analysis
3. Cloud-based data management for improved collaboration
4. Flexibility to work with various plate formats and assay types

Customers

Reshape Biotech has secured several high-profile customers across different industries:

1. Syngenta (Agriculture)
2. DSM
3. Chr. Hansen (Food & Ingredients)
4. AB Foods
5. University of Copenhagen (Academic)
6. Pattern Ag
7. Novozymes

They also mention working with one of the top 3 FMCG (Fast-Moving Consumer Goods) companies in the world.

Relevant News

1. April 2024: Reshape Biotech raised $20 million in funding, as reported by TechCrunch.

2. The company has been featured in various press articles, including coverage of their record-breaking seed round in Danish history.

3. Reshape Biotech has published several case studies demonstrating the successful implementation of their technology in various industries:

   • Syngenta using AI for detecting active compounds
   • Chr. Hansen accelerating new product development
   • DTU Biosustain advancing evolutionary research
   • Imperial College advancing metabolic engineering research
   • An unnamed FMCG company transforming challenge testing for personal care products

These case studies and customer testimonials highlight the practical applications and benefits of Reshape Biotech’s technology across different sectors.