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Japanese Firm Atonarp Closes $33M Series C Round

NEW YORK – Life science instrument manufacturer Atonarp said today it has completed a $33 million Series C round.

The Tokyo-based firm said it will use the funding to support prototyping and commercialization of its mass spectrometry and optical spectroscopy instruments, which are targeted at industrial and diagnostic applications.

Participating in the round were new investors including Japan Post Investment, SBI Investment, and Northwestern Mutual Future Ventures as well as current investors INCJ, Innovative Venture Fund Investment Limited Partnership, and an unnamed medical equipment manufacturing company.

The company markets its mass spec technology for monitoring production processes in the pharmaceutical and semiconductor businesses and aims to use its optical spectroscopy system to develop point-of-care diagnostics.

"Atonarp has continued to execute at a fast pace toward our goal of disrupting the old healthcare diagnostics model that is time-consuming, painful and costly," Atonarp CEO Prakash Murthy said in a statement. "With our recent innovative engineering progress, we are well-positioned to meet our product roadmap deliverables in 2020."

The company has raised more than $61 million in equity funding since 2014.