Marama Labs, a deep-tech startup rooted in New Zealand and Ireland, specialising in novel spectroscopy technology for complex liquid analysis, has successfully closed an oversubscribed seed-plus round, securing €1.75 million. Led by The Yield Lab, a European agritech venture capital firm, and with participation from global investors, this funding positions Marama Labs for hardware manufacturing scale-up and a strategic entry into the life-sciences market.
Investment and support
The Yield Lab spearheaded the seed-plus round, emphasising their belief in Marama Labs’ vision. Existing investors, including New Zealand Growth Capital Partners, Icehouse Ventures, Quidnet Ventures, and angel groups from New Zealand, reinforced their support. New investors, such as DeepIE, Radar Ventures, NZVC, and angel and high-net-worth investors from New Zealand, Ireland, and Germany, joined this collaborative effort.
Hardware scale-up and market expansion
The newly acquired funding will facilitate the scaling up of hardware manufacturing capacity in New Zealand for Marama Labs’ CloudSpec spectroscopy instrumentation and cloud software data analytics tools. This patented platform accelerates the analysis of opaque liquid samples, such as fermenting wines and nanomedicines, providing chemical data swiftly to optimise production processes. In addition to strengthening its position in the wine industry, the company aims to launch its first product in the life-sciences market in 2024.
CEO’s vision for 2024
Dr. Brendan Darby, CEO and co-founder of Marama Labs, expressed confidence in the company’s future, stating, “2024 will be a seminal year for Marama as we continue creating value for our winemaking customers and expand CloudSpec into the rapidly growing life-sciences market.”
The Yield Lab’s perspective
John Carrigan, Investment Director at The Yield Lab (Europe), commended Marama Labs’ progress, noting their success in global markets. He stated, “This is a technology and company that we see creating real benefits to the planet. We’re delighted to back the Marama Labs team by leading this round.”
Winemaking with CloudSpec
Marama Labs’ CloudSpec technology is revolutionising winemaking by providing quantitative chemical data throughout the production process, from vineyard to bottle. CloudSpec Insights, a wine-specific web application coupled with the hardware device, offers winemakers colour and phenolic data, simplifying decision-making and enhancing business insights.
Expanding into life sciences
Beyond winemaking, Marama Labs is expanding CloudSpec into the life-sciences market. The technology addresses challenges in drug discovery, process monitoring, quality assurance, and new product development. With commercial trials ongoing with leading pharmaceutical manufacturers globally, the company is making strides in this vital sector.
Strategic appointments and global presence
To support the life sciences business, Darren Andrews, former founder of Cobalt Light Systems, has been appointed Chief Product Officer of Life Sciences. Marama Labs has also expanded its team, hiring its first full-time salesperson in the US.
Pioneering deep-tech spectroscopy
Marama Labs, a spinout from Victoria University of Wellington, founded in 2019, is poised for significant growth with its deep-tech spectroscopy technology. As it navigates the complex terrain of liquid analysis in winemaking and life sciences, the company is set to play a pivotal role in shaping the future of chemical analysis technologies. The strategic funding injection reflects investor confidence in Marama Labs’ potential impact on diverse industries and markets.
