908 Devices, a Boston, MA-based provider of analytical devices for chemical analysis, closed an $11.6M Series C funding.
The round was led by Saudi Aramco Energy Ventures (SAEV), the corporate venturing subsidiary of Saudi Arabia’s National Oil Company, Saudi Aramco (which will be a partner and product adopter as 908 Devices launches solutions for the oil and gas markets). Existing investors ARCH Venture Partners, Razor’s Edge Ventures, University of Tokyo Edge Capital (UTEC) and Schlumberger as well as number of new executive-level individual investors participated in the round.
The company, which has raised a total of $27.6M to date, intends to use the funds to expand commercial channels and develop additional High-Pressure Mass SpectrometryTM (HPMS) products beyond its M908TM in the safety and security market while accelerating expansion into oil and gas, environmental and life science markets.
Led by Dr. Kevin J. Knopp, President and CEO, 908 Devices offers products from rugged, handheld chemical detection tools to compact, tiny footprint analyzers for researchers, serving a range of industries including safety and security, energy, petrochemical, and life sciences.
FinSMEs
06/05/2015