Excedr lands $25M to expand life sciences equipment leasing
What's the deal? ExcedrDealroom has a profile for this one. Try Dealroom →, a full-service laboratory equipment leasing company, has closed $25 million in growth capital. The financing combines a $17 million senior credit facility from BOK FinancialDealroom has a profile for this one. Try Dealroom → with $8 million in equity from existing investors and global single-family offices.
What does Excedr do? Founded in 2011 and incubated in University of California, Berkeley laboratories, the company provides operating lease solutions and ongoing support for lab instrumentation across therapeutics, diagnostics, and contract research organisations. It works with original equipment manufacturers (OEMs) including DanaherDealroom has a profile for this one. Try Dealroom →, SartoriusDealroom has a profile for this one. Try Dealroom →, and Bio-RadDealroom has a profile for this one. Try Dealroom →.
The round details: BOK Financial's facility consists of a revolving line of credit and a term loan structured to grow Excedr's leasing portfolio. The bank's asset-based lending group typically structures credit facilities of $5 million to $50 million.
What's the money for? Excedr plans to expand its equipment portfolio, deepen OEM partnerships, and invest further in its platform.
"BOK Financial's flexible credit solution, together with the support of our existing and new investors, enables us to expand our equipment portfolio," said Jon Chee, co-founder and chief executive officer of Excedr.
Why now? Chee described the raise as helping "more scientists access mission-critical equipment without tying up equity or working capital." Excedr says organisations across the R&D spectrum increasingly seek flexible, non-dilutive financing.
The signal: As life sciences companies aim to do more research with less capital, leasing models that preserve equity are drawing more demand. Excedr's raise reflects growing appetite for non-dilutive alternatives across the sector.
Read more: PR Newswire
