NEW YORK – Stilla Technologies announced on Tuesday that it has raised €20 million ($22 million) in a Series B funding round.
The round includes a new investor, China-based TUS-Holdings. Stilla will use the funds to support development of a next-generation digital PCR platform and to expand in Asia.
In addition to TUS-Holding, funding in the round came from the firm's existing investors including Illumina Ventures, Kurma Partners, LBO France, Paris Saclay Seed Funds, BNP Paribas Développement, and Idinvest Partners.
Paris, France-based Stilla will use the funds to develop a next-generation solution featuring superior analytical performance, including six-color detection capabilities, Rémi Dangla, cofounder and CEO of Stilla Technologies, said in a statement.
Furthermore, "Our future focus will be to apply our state-of-the-art technology to clinical diagnostics, to the benefit of patients," Dangla added. And, by bringing TUS-Holdings on board, "We also look to rapidly expand our activities in China and throughout Asia, while maintaining strong growth of the business in Europe and the United States."
Daniel Wang, CEO of TUS-Holding's European subsidiary Tuspark Europe, was also appointed a member of Stilla's board of directors.
"TUS will spare no effort to facilitate Stilla's growth, including by granting the company access to our innovation ecosystem and network," Wang said.