As part of its ‘Explore’ programme, Elbow Beach Capital today invested in chemistry automation startup, CheMastery in a seed round led by Science Angel Syndicate and Undeterred Capital.
Founded by Dr Anna Andreou and Dr Stefan Glatzel, CheMastery aims to revolutionise the way in which chemical research and manufacturing are carried out. It is estimated that about 80% of a chemist’s time is spent on low skill, repetitive manual labour. CheMastery is aiming to solve these efficiency issues by making automation commonplace in chemical laboratories.
The proceeds of this round will be used to expand the CheMastery team and enable the company to move to purpose-built headquarters that will enable chemists to work alongside their engineering team in a single location.
Jonathan Pollock, CEO of Elbow Beach Capital:
“We’re delighted to participate in this round and to support this next stage of growth. Anna and Stefan have developed an innovative and scalable platform in a crucial yet underfunded industry, and I look forward to seeing CheMastery meet its significant potential.”
In line with our ambition to create value and impact by backing innovative founders, our ‘Explore’ investment vertical widens our reach beyond our ‘Core’ investments. Typically, companies receiving ‘Explore’ investment are pre-seed and not yet ready to go to market. Our ‘Explore’ tickets allow us to support and build relationships with emerging businesses with the potential of future larger investments.