Funding profile · Antibody discovery software

PipeBio

A Danish bioinformatics company that raised between $125,000 and $316,000, depending on the database, ran at a loss for four years, and sold to Benchling in October 2024 for an undisclosed price.

Data as of September 24, 2026. Company-reported figures are labeled. Amounts in DKK are as filed; no exchange rate has been applied.

Rounds at a glance

What the filings show

Reading the filings

1. Three databases, three totals, and the arithmetic points to PitchBook.PitchBook reports $15.1K on Jan 1, 2021 and $125K on Mar 3, 2021, raised to date $140K, then an unpriced seed on Mar 30, 2021 and a headline total of $316K. Subtracting gives roughly $176K for the seed. CB Insights reports $130K, close to the accelerator cheques alone, and appears to omit the seed. Dealroom shows a single $125k line.
2. The capital is trivially small for what was built.Even taking the highest figure, $316K plus DKK 40,000 of share capital is less than one year of the company’s own payroll, which ran at DKK 3.8 million in 2023. The money to cover four years of losses is not in the equity column.
3. It is in short term liabilities instead.Those grew from DKK 458 thousand at end 2020 to DKK 12,072 thousand at end 2023, against total assets of DKK 4,271 thousand. In a Danish ApS that is where founder loans, convertibles and deferred obligations sit. On paper the company was insolvent for three straight years.
4. Revenue was arriving before the exit, and receivables are the only proof.Trade receivables went DKK 69 thousand, 95 thousand, 1,483 thousand across 2021 to 2023, a fifteenfold jump in the final year, while gross profit turned from minus 183 thousand to plus 559 thousand. Turnover is not disclosed, so this is the best read on traction, and it matches the customer announcements of 2021 and 2022.
5. Negative equity did not depress the outcome.Ten months after closing 2023 with minus DKK 7.8 million of equity, the company was sold. KapitalWatch reported in July 2025 that the sale made both founders multi millionaires. No price has been disclosed by Benchling, by the sellers, by their adviser Mazanti-Andersen, or in any database.
6. The post deal accounts look like a subsidiary, not a startup.Proff shows, under 2026, gross profit of DKK 11,435 thousand against a pre tax result of minus DKK 8,347 thousand, with the equity ratio repaired from minus 79.8 percent to 37 percent. Gross profit rising twentyfold while losses widen is the signature of intragroup revenue allocation and a parent recapitalising the entity.

Commercial signals

What to watch

• The 2024 and 2025 Danish annual reports, which will show what the acquisition did to the balance sheet and whether the entity keeps filing at all.
• Any purchase price disclosure. Benchling is private, so a Danish filing is a likelier route than a press release.
• Whether the PipeBio brand survives. A 2025 paper already cites the tool as PipeBio/Benchling.
• The methods citation count, the one adoption metric in this file that is not self reported.

The PipeBio story on Healthcare DiscoveryHealthcare Discovery

Related companies

• SFA Therapeutics: Shared investor: Acequia Capital. A Temple University spinout turning short chain fatty acids from the human gut into oral pills
• Adaptyv Bio: Shared investor: Acequia Capital. A Swiss automated laboratory that turns AI designed protein sequences into measured binding data, and that has published the full results of three open design
• Forcyte Biotechnologies: Shared investor: Acequia Capital. A UCLA spinout that turned how hard a single cell squeezes into a number, then ran that number as a drug screen
• Reshape Biotech: Shared investor: Innovation Fund. A Copenhagen company that builds one robot for each routine job in a microbiology lab: pouring agar, incubating plates, photographing them and counting what grows

Sources

1. Public recordPipeBio ApS, CVR 41043288, register entry and filed accounts 2020 to 2023Danish Central Business Register via find-virksomhed.dk · accessed Sep 24, 2026
2. Public recordPipeBio ApS company record, officers and key figuresProff.dk, sourced to Risika and CVR/Virk · accessed Sep 24, 2026
3. Public recordPubMed Central full text search for PipeBio, 20 articlesNCBI · Sep 24, 2026
4. IndependentPipeBio company profile: funding rounds, investors and acquisitionPitchBook · accessed Sep 2026
5. IndependentPipeBio products, competitors, financials and headquartersCB Insights · accessed Sep 2026
6. IndependentSalg til amerikanere har gjort Pipebio-stiftere til mangemillionærerKapitalWatch · Jul 30, 2025
7. IndependentDanish bioinformatics platform PipeBio acquired by US-based BenchlingMazanti-Andersen · Oct 25, 2024
8. IndependentPlatforma vs. Geneious vs. PipeBio: how to choose the best antibody discovery platform in 2026MiLaboratories · Feb 4, 2026
9. CompanyBenchling acquires PipeBio to accelerate AI-powered antibody discoveryBenchling · Oct 20, 2024
10. PartnerTrueBinding, Isogenica and Abalone Bio collaboration announcementsPR Newswire and Isogenica · 2021 to 2022

Compiled from the Danish Central Business Register, PubMed Central and published reports as of September 24, 2026. No SEC Form D exists for this company: it is a Danish private limited company and Regulation D does not apply to it, so round sizes shown here come from commercial databases rather than filings and should be read as estimates. Healthcare Venture Capital Fund holds no position in PipeBio. This page is not an offer to sell or a recommendation to buy any security.