Funding profile · Laboratory automation

Reshape Biotech

A Danish lab robotics company with $29.1 million announced across three rounds and no SEC filings. The Danish register publishes its annual accounts, which carry the numbers the announcements leave out.

$29.1MAnnounced equity funding, 2021 to 2024
DKK 75.5MEquity at March 31, 2026, Danish register
DKK 42.6MLoss for the year to March 31, 2026
DKK 18.1MInnovation Fund Denmark grant to the RAPIDFUNG consortium

Data as of September 24, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2019 to 2020 Soft funding About DKK 0.7M Innobooster; DTU Skylab Next Level Funding Independent
Mar 2021 Pre-seed, after YC Winter 2021 $1.0M FundersClub (lead); Nicholas Francis, Charlie Songhurst, Mads Ingwar, Martin Permin Independent
Feb 2023 Seed, cumulative with 2021 $8.1M ACME Capital (lead); FundersClub, Y Combinator, Nicholas Francis, Per Falholt. ArcticStartup also names Look Up Ventures Release plus press
Apr 2024 Series A $20.0M Astanor Ventures (lead); Y Combinator, R7, ACME, 21stBio, Nicholas Francis. Harry Briggs joined the board Release plus press
Year to Mar 2026 Paid-in capital, no round announced DKK 81.6M implied Not disclosed Register arithmetic
2026 to 2030 RAPIDFUNG grant, to a consortium DKK 18.1M of DKK 26.6M Innovation Fund Denmark, Grand Solutions; led by DTU Public record

What the filings show

No Form D has been filed with the SEC by Reshape or by any pooled vehicle naming it. Reshape is a Danish private limited company and files annual accounts in the Central Business Register instead. Those are the filings of record.

Reshape ApS · annual accounts · year ended Mar 31, 2026

Gross profit
DKK 5,310,622, from DKK 6,603,206
Operating result
DKK minus 42,324,577
Result for the year
DKK minus 42,643,506
Equity
DKK 75,515,117, from DKK 36,562,988
Balance sheet
DKK 87,778,096; fixed assets 44,677,622; current assets 43,100,474; liabilities 12,262,979
Ratios
Solvency 86.0 percent; current ratio 351.5 percent
Revenue
Not disclosed; reporting class B may omit turnover
Filing
CVR 40056173; auditor KPMG P/S

Reshape ApS · annual accounts · year ended Mar 31, 2025

Gross profit
DKK 6,603,206
Result for the year
DKK minus 35,557,856
Equity
DKK 36,562,988, from DKK 25,058,134
Balance sheet
DKK 43,713,434; fixed assets 33,028,700; current assets 10,684,734
Employees
54 in the register, 51 on a second mirror

Reading the filings

  1. The Series A landed across two fiscal years.Equity rose DKK 25.1M to DKK 36.6M in the year to March 2025 against a DKK 35.6M loss, implying about DKK 47.1M of new paid-in capital. The next year it rose DKK 36.6M to DKK 75.5M against a DKK 42.6M loss, implying about DKK 81.6M more. The two years total roughly DKK 128.7M, which at 6.5 to 7.0 kroner per dollar is about $18M to $20M. That is the April 2024 round drawn in tranches, not a second one.
  2. Nothing points to a round after April 2024.No Form D, no announcement, and no equity movement outside that arithmetic, while annual burn rose from DKK 12.2M to DKK 42.6M.
  3. Losses grow while the published income line shrinks.Gross profit went DKK 1.7M, DKK 6.6M, then DKK 5.3M across the last three years, a 20 percent fall in the latest. The loss went DKK 12.2M, DKK 35.6M, DKK 42.6M. Turnover is not published, so gross profit is the only income signal on file, and it moved the wrong way in the year the quality control product was scaling.
  4. Capital is going into assets, not only salaries.Fixed assets rose from DKK 8.6M in March 2023 to DKK 44.7M in March 2026, over half the balance sheet. The platform is sold as a subscription bundling hardware, so instruments the company still owns would sit here. The public summary does not break the category out.
  5. Unlevered balance sheet, roughly a year of runway.Liabilities of DKK 12.3M against DKK 87.8M of assets. Current assets of DKK 43.1M cover about one year at the DKK 42.6M annual loss rate, before new capital or any change in burn.
  6. An investor vehicle is the registered owner.The CVR entry lists NPF Technologies ApS, CVR 33243731, of Hørsholm. It sits under NPF Technologies Holding ApS, wholly owned by Nicholas Peter Francis, the Unity co-founder who wrote an early cheque in 2020 and joined every round since. The percentage is not shown.

Commercial signals

Signal Detail Source type
Regulatory No FDA file, registered trial, NIH or NSF award. Research and QC instruments. None found
Named users Syngenta, University of Oxford, Imperial College London. No contract values. Company-stated
Geography About two thirds of revenue from the US as of April 2024, largely via European customers’ US sites. Independent
Product line Smart Incubator, High-throughput Imaging Device, Media Plate Filler. Throughput quoted at 450, 600 and 650 plates per hour on different company pages. Company figures differ
Public research RAPIDFUNG with DTU, BioSense Solutions and Mycoverse, four years. Public record

What to watch

  • The accounts to March 31, 2027, due in the register within six months of year end.
  • Any equity increase larger than the Series A arithmetic explains, which would mark an unannounced round.
  • A Form D, which appears only if a US entity raises under Regulation D.
  • Whether gross profit resumes growing after the fall in the year to March 2026.

The Reshape Biotech story on Healthcare DiscoveryHealthcare Discovery

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Sources

  1. Public recordReshape ApS, CVR 40056173, accounts for years ended March 2022 to 2026Danish register via eStatistik · Sep 24, 2026
  2. Public recordReshape ApS entry: owners, employees, figuresVirkdata · Sep 24, 2026
  3. Public recordReshape ApS ratios and key figuresProff.dk via Risika and CVR · Sep 24, 2026
  4. Public recordNPF Technologies ApS, CVR 33243731, and the Francis chainVirkdata and Ownr · Sep 24, 2026
  5. Public recordRAPIDFUNG grant and budgetDTU Bioengineering · Mar 2026
  6. Public recordNo SEC Form D, FDA file, trial, NIH, NSF or PubMed matchSep 24, 2026
  7. IndependentReshape wants to help decode natureTechCrunch · Apr 9, 2024
  8. IndependentDanish Reshape bags $20M in Series A fundingArcticStartup · Apr 15, 2024
  9. IndependentLargest seed round in the country’s historyArcticStartup · Feb 13, 2023
  10. IndependentReshape Biotech to add $1 million led by FundersClubNordic9 · Mar 11, 2021
  11. IndependentBiotekrobot gør indtog i laboratorietIngeniøren · Oct 12, 2020
  12. CompanyReshape Bio raises $8 millionBusiness Wire · Feb 9, 2023
  13. CompanyWe have raised $20m in our Series AReshape Biotech blog · 2024
  14. CompanyHTID and Smart Incubator specificationsReshape Biotech · Sep 24, 2026

Compiled from Danish Central Business Register filings, Innovation Fund Denmark and DTU records, SEC and other US public records, and published reports as of September 24, 2026. Danish accounts are filed in kroner for fiscal years ending March 31, and reporting class B companies may omit turnover. Dollar round sizes are as announced. Healthcare Venture Capital Fund holds no position in Reshape Biotech. This page is not an offer to sell or a recommendation to buy any security.