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908 Devices Raises $20M

NEW YORK (GenomeWeb) – 908 Devices announced today that it has closed a $20 million growth equity financing round.

Investors in the round included Tao Capital Partners and Cormorant Asset Management.

908 Devices makes chemical analysis devices based on its proprietary high-pressure mass spectrometry (HPMS) technology, which uses miniaturized ion traps that allow the device to operate at higher pressures than standard mass spectrometers. The company said that the new funding would be used to support its product development activities.

"We are delivering unprecedented analytical capabilities through our HPMS platform and smart separations devices," 908 Devices President and CEO Kevin Knopp said in a statement. "With this added support, we will build on the rapid adoption our products have seen to-date and forge ahead into uncharted territories."

In mid-2015, 908 Devices completed a $13 million Series C financing round. It has raised $49 million to date.