Carterra

Deal Snapshot

Company: Carterra, Inc. (formerly Wasatch Microfluidics)

Website: carterra-bio.com

Sector / Category: Life sciences tools / high-throughput surface plasmon resonance (SPR) for antibody screening & characterization

Headquarters: Salt Lake City, Utah, USA

Founded: 2005

Investor: Frazier VC

Deal Type: Primary

Rounds: Series A, Series B, Series F, and Series G

Company Overview

Carterra develops high-throughput, label-free biomolecular interaction analysis platforms used in therapeutic discovery, with a focus on antibody characterization workflows such as epitope binning and kinetic analysis. The company’s LSA platform combines patented flow-printing microfluidics with SPR detection to generate large volumes of binding data quickly while reducing sample requirements.

Public Funding / Capital Events

Jan 17, 2018 — $10M financing led by Telegraph Hill Partners

Carterra announced a $10M raise led by Telegraph Hill Partners to develop and launch a next-generation antibody characterization platform.

Jan 14, 2020 — $6M financing led by Ballast Point Ventures

Carterra announced a $6M financing led by Ballast Point Ventures, with participation from Telegraph Hill Partners.

Dec 14, 2020 — PerkinElmer led equity financing

Carterra announced an equity financing led by PerkinElmer, with participation from existing investors Telegraph Hill Partners and Ballast Point Ventures.

Investment Summary

Frazier VC has invested in Carterra across multiple primary rounds beginning in 2007, including Series A (8/2007) and Series B (1/2012), and later participation in late-stage financings (Series F in 12/2019 and Series G in 12/2020, per your records). Carterra’s evolution from Wasatch Microfluidics into a scaled life sciences tools platform reflects continued progress in building differentiated, high-throughput SPR systems used by drug discovery teams.

Why We Invested

We invested in Carterra because we look for businesses with durable growth potential, clear differentiation, and meaningful barriers to entry. Carterra’s patented microfluidic flow-printing approach and high-throughput SPR systems are purpose-built for antibody discovery workflows where speed, data depth, and reproducibility matter. We also value platforms that become embedded in customer R&D processes, creating long-term stickiness as teams standardize their screening and characterization pipelines.

Other Investors

PerkinElmer

Telegraph Hill Partners

Ballast Point Ventures

Revvity

Shepherd Growth Partners

Park City Angels