Glasswing Portfolio Company Labviva Raises $25M in Series B Funding

As early-stage AI and frontier tech investors, Glasswing Ventures strives to back visionary founders and their innovative ideas throughout every phase of their startup journey. We take pride in supporting our portfolio companies as they turn ideas into products and build industry-revolutionizing businesses. Today, we could not be more excited to share the Series B fundraising milestone of our portfolio company, Labviva, a financial representation of the significant progress the company has made in redefining the life sciences procurement industry.

Historically, life science researchers have been required to dedicate hours to examining outdated legacy systems and antiquated punchout catalogs for procurement, often failing to secure the most competitive pricing and spending time that could otherwise be allocated to progressing research projects forward. Meanwhile, procurement leaders experience the constraint of monolithic marketplaces that heighten the risk of stockouts, reactive ordering, and delayed supply chains. Similarly, suppliers are burdened by poor inventory management and inadequate item-level data that intensify operational challenges. By leveraging natural language processing (NLP) and machine learning (ML) algorithms, the Labviva platform alleviates these chronic inefficiencies and sets a new standard for the procurement process.

Labviva’s AI-native platform increases researchers’ efficiency by automatically aggregating catalogs and intelligently matching buyers with the right products from optimal suppliers at the best prices. The platform’s AI-driven insights reduce bottlenecks and supply chain delays by identifying lower-cost alternatives and recognizing purchasing patterns. Organizations that leverage the Labviva platform experience a minimum of 20% savings on all managed spend.

As the lead investor in Labviva’s pre-seed round, we recognized the vision that founders Siamak Baharloo and Nicholas Rioux had to transform the over $300 billion life science R&D market. Since its inception, the Labviva team has grown to over 50 employees and built an end-to-end platform that includes purchasing, inventory management, and analytics. Over the last year, Labviva has doubled its revenue and tripled the transactions on its platform. It has been recognized as one of Massachusetts’ best startups and as a BostInno Fire Award honoree.

We look forward to continuing to support Labviva as it embarks on its next growth phase alongside 53 Stations, Biospring Partners, and B Capital Partners. The company will leverage the new funding to accelerate product development and expand internationally.

Read more about Labviva’s fundraise here.