Evelo Biosciences

Evelo Biosciences Raises $75M in Series D

Evelo Biosciences has successfully raised $75M in a Series D at a $500M valuation led by Fidelity, Celgene, Kaiser Permanente Ventures, Flagship Pioneering.

Company Overview

Evelo Biosciences is a Biotech company headquartered in 620 Memorial Drive, Cambridge, MA 02139, founded in 2014 with 150+ employees.

Monoclonal microbials for cancer and inflammation

Fundraising Details

• Amount Raised: $75M
• Round Type: Series D
• Valuation: $500M
• Date: 2024-08-05
• Investors: Fidelity, Celgene, Kaiser Permanente Ventures, Flagship Pioneering

About Evelo Biosciences

Monoclonal microbials for cancer and inflammation The company is positioned in the Biotech sector, serving a growing market with innovative solutions.

Key Information

• Headquarters: 620 Memorial Drive, Cambridge, MA 02139
• Founded: 2014
• Team Size: 150+
• Industry: Biotech

What This Means

This funding round demonstrates strong investor confidence in Evelo Biosciences's vision and execution. The capital will likely be used to:

• Scale Operations: Expand the team and operational capacity
• Product Development: Enhance existing products and develop new features
• Market Expansion: Enter new markets and strengthen presence in existing ones
• Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Biotech sector continues to attract significant investment as companies innovate to meet evolving market demands. Evelo Biosciences's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $500M valuation marks an important milestone for Evelo Biosciences, positioning the company among notable players in the Biotech industry.

Looking Ahead

With this new capital, Evelo Biosciences is well-positioned to execute on its growth strategy and continue building innovative solutions in the Biotech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-08-05. For more information about Evelo Biosciences, visit their headquarters at 620 Memorial Drive, Cambridge, MA 02139.