Cambridge Enterprise-backed Fluidic Analytics' third funding round will help fund the launch of its first microfluidics-based protein analysis machine.

Fluidic Analytics, a UK-based protein analysis technology spinout from University of Cambridge, has obtained £31m ($39.6m) in a round led by venture capital fund Draper Esprit.

VC fund BGF Ventures took part in the round together with Delin Ventures, IQ Capital and Amadeus Capital Partners.

Founded in 2013, Fluidic Analytics has created a microfluidics-based protein characterisation technology called Fluidity One that can be used to aid medical research, create pharmaceutical drugs and provide more accurate diagnosis of patients.

The protein samples are submerged in a solution so that Fluidity One can evaluate their rate of diffusion under state laminar flow conditions whereby the solution flows into two separate adjacent streams.

Fluidic Analytics was founded by chief scientific officer Tuomas Knowles, a professor in the Department of Chemistry.

The cash will support the commercial release of Fluidity One and preparations for the launch of two other lab tools as Fluidic Analytics looks to expand the range of clinical applications for its technology.

Cambridge Enterprise Seed Fund, a vehicle run by the university’s tech transfer office, backed a $7m series B round for Fluidic Analytics in September 2016 led by IQ Capital Partners. The round also included patient capital fund Cambridge Innovation Capital, commercialisation firm IP Group, Draper Esprit and Amadeus Capital Partners.

Cambridge Enterprise had already led Fluidic’s $2.4m series A round in 2015, which featured Draper, IQ, Parkwalk and Amadeus.

Feature image courtesy of Fluidic Analytics