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908 Devices Raises $11.6M to Develop Mini Mass Spec System for New Markets

NEW YORK (GenomeWeb) – 908 Devices today announced that it has closed an $11.6 million Series C round of financing, providing the company with funds to expand commercialization efforts around its M908 miniature mass spectrometry device, as well as develop the product for new applications in the oil and gas, environmental, and life science markets.

The round, which brings 908's total funding to $27.6 million, was led by Saudi Aramco Energy Ventures, the corporate venturing subsidiary of Saudi Arabia’s national oil company. Also participating were existing investors Arch Venture Partners, Razor’s Edge Ventures, University of Tokyo Edge Capital, and international oilfield service firm Schlumberger, as well as certain individual investors.

The M908 is based on a technology known as high-pressure mass spectrometry (HPMS), which uses miniaturized ion traps that allow the device to operate at higher pressures than standard mass spectrometers. As a result, it doesn't require components like high-end vacuum pumps, thereby reducing its size, price, and energy requirements.

908 has thus far focused on marketing the device for safety and security applications, such as the on-site detection of critical and hazardous compounds including chemical warfare agents, toxic industrial chemicals and materials, explosive materials, and drug substances.

However, as reported by GenomeWeb, the company has on ongoing collaboration with Schlumberger to develop a device similar to the M908 for use in the oil and gas space. Meanwhile, 908 has been exploring the application of its technology in agriculture, food safety, and the life sciences.

"Over the last year, we've worked in parallel on developing HPMS technology for additional markets," 908 President and CEO Kevin Knopp said in a statement. "This round of funding will enable us to truly accelerate these new opportunities, and we look forward to unveiling these new HPMS devices in the near future."