Until Labs Funding, Investors & Competitors

Until Labs has raised $106M across 2 funding rounds, most recently a $58M Series A in September 2025.

Last Until Labs funding round

$58M

Series A · Sep 2025

Cumulative funding Until Labs raised

$106M

across 2 funding rounds

Key investors in Until Labs

  • Founders Fund
  • Lux Capital
  • Field Ventures

Until Labs Overview

About Until Labs

Until Labs is a biotechnology company advancing cryopreservation technologies to pause biological time. Its in-house team of biologists, engineers, and physicists develops scalable methods for organ and tissue preservation. Headquartered in the San Francisco Bay Area, Until Labs targets applications in organ transplants and regenerative medicine.


Founded

2021

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Services

Until Labs Funding History

Until Labs has raised a total of $106M across 2 funding rounds.

Until Labs' first fundraising round was a $48M Series A in June 2024. The most recent completed round was a $58M Series A in September 2025.

Until Labs funding rounds

Until Labs funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2025Series AFounders Fund (lead); Lux Capital; Field Ventures$58MUntil Labs announced a $58 million Series A funding round on September 22, 2025, led by Founders Fund with participation from Lux Capital and Field Ventures. The company develops perfusion hardware, cryoprotective agents, and rewarming infrastructure to enable reversible cryopreservation of biological systems, starting with organ-scale preservation for transplant patients and surgeons. This technology aims to preserve donor organs at temperatures suitable for indefinite storage, then rewarm them for transplantation, addressing issues like organ discard due to timing mismatches and improving organ matching. The funding will support expansion of Until Labs' multidisciplinary team across chemistry, biology, mechanical engineering, electrical engineering, neuroscience, and surgery. Co-founders Laura Deming and Hunter Davis emphasized the need for technologies that give transplant patients and surgeons more time with organs on their timeline. Until Labs' mission extends to building infrastructure for pausing biological time, progressing from organs toward whole-body medical hibernation. No financial metrics such as post-money valuation, revenue, ARR, EBITDA, or valuation multiples were disclosed in the funding announcement or related coverage. As an early-stage biotech focused on cryopreservation prototyping and scaling, the company is pre-revenue with emphasis on R&D and team growth rather than commercial traction metrics.
Jun 2024Series A-$48MUntil Labs develops perfusion hardware, cryoprotective agents, and rewarming infrastructure for reversible cryopreservation of biological systems, starting with organ-scale preservation for transplant patients and surgeons to enable better organ matching and prevent discards due to time constraints. The company aims to build medical infrastructure to pause biological time, progressing from neural tissue slices to preclinical model organs, with a long-term vision of whole-body medical hibernation technology. Co-founded by Laura Deming and Hunter Davis, Until Labs focuses on novel molecular agents, perfusion and surgical protocols, and cooling/rewarming hardware. Until Labs announced a $58 million Series A funding round on September 22, 2025, led by Founders Fund with participation from Lux Capital and Field Ventures, bringing total investment to over $100 million. The proceeds will expand the multidisciplinary team in chemistry, biology, mechanical engineering, electrical engineering, neuroscience, and surgery, while building operational infrastructure to advance organ cryopreservation products. This funding supports near-term goals for transplant applications amid a U.S. transplant waitlist of about 106,000 patients in 2024, where only around 46,000 received organs, highlighting unmet demand due to eligibility limits and donor availability. The company's efforts address critical gaps in organ transplantation, where donor organs often fail to reach patients in time, and position Until Labs within the broader biotech innovation space focused on cryopreservation and tissue preservation technologies.

Who has invested in Until Labs?

3 investors have backed Until Labs across its funding rounds, including Founders Fund, Lux Capital and Field Ventures.

Lead investors include Founders Fund.


Until Labs Investors

Investors in Until Labs by funding rounds participated
InvestorHQRoundsRoleFirst check
Lux CapitalUnited StatesNew York City, NY1ParticipantSep 2025

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Until Labs Competitors

Until Labs competitors include listed companies like Bloomage BioTechnology, ArcticZymes, CF Industries and Qinghai Salt Lake Industry, and private ones like Sangon Biotech and Prolific Machines.

Public and private companies comparable to Until Labs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Bloomage BioTechnologyChinaChinaPublicly listed$626M$103M$2.5B4.1x
Sangon BiotechChinaShanghaiPrivate$102M-$1.4B13.7x
Prolific MachinesUnited StatesUnited StatesPrivate--$202M-
ArcticZymesNorwayNorwayPublicly listed$12M$1M$114M6.4x
CF IndustriesUnited StatesUnited StatesPublicly listed$7.1B$3.2B$20B3.1x
Qinghai Salt Lake IndustryChinaChinaPublicly listed$2.3B$1.2B$20B4.5x

Until Labs Public Comps

Until Labs is still privately-owned, but its public comps include Merck KGaA, Illumina, CF Industries, Qinghai Salt Lake Industry, Sartorius, Industries Qatar, SABIC Agri-Nutrient, Zhejiang NHU, Bio-Techne and 10x Genomics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Merck KGaA$24B$5.3B3.1x3.1x14.3x10.7x
Illumina$4.3B$1.4B8.8x8.4x27.1x30.0x
CF Industries$7.1B$3.2B3.5x3.1x7.7x6.8x
Qinghai Salt Lake Industry$2.3B$1.2B6.9x4.5x13.3x7.3x
Sartorius$4.1B$1.1B5.7x5.4x21.8x18.2x
Industries Qatar$4.4B$1.6B3.4x4.4x9.5x14.1x
SABIC Agri-Nutrient$3.5B$1.4B3.8x4.1x9.5x10.1x
Zhejiang NHU$3.3B$1.5B3.5x3.1x7.6x6.7x

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Common questions about Until Labs

When was Until Labs founded?Until Labs was founded in 2021.
Where is Until Labs headquartered?Until Labs is headquartered in San Francisco, CA, United States.
Is Until Labs publicly listed?No, Until Labs is a private, VC-backed company.
How much funding has Until Labs raised?Until Labs has raised $106M across 2 funding rounds.
What was Until Labs' last funding round?Until Labs' last funding round was a $58M Series A in September 2025, led by Founders Fund.
Who are Until Labs' investors?Until Labs' investors include Lux Capital, Founders Fund and Field Ventures.
Which companies are comparable to Until Labs?Companies comparable to Until Labs include Bloomage BioTechnology, Sangon Biotech, Prolific Machines, ArcticZymes, CF Industries and Qinghai Salt Lake Industry.

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