CIT GAP Funds Invests in Cerillo to Illuminate Scientific Research Possibilities with Innovative Technologies
Startup develops innovative laboratory instruments that enable scientists across the globe to work more efficiently and effectively
Richmond, VA, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) has invested in Charlottesville, Va.-based Cerillo. Cerillo designs innovative laboratory technologies that allow scientists to collect data more efficiently and researchers to amplify their impact on the world. Cerillo will use CIT’s funding to expand sales and marketing efforts and to continue expanding its business operations and product development teams, which will position the company for rapid growth.
“Cerillo’s first product significantly lowers the barrier to entry for researchers and microbiologists everywhere. The increased portability and reduced cost will enable discoveries by researchers for whom legacy instruments were entirely unsuitable,” says Alex Euler, Senior Investment Director, CIT GAP Funds. “The leadership team’s combined expertise, plus recent additions to the business operations team, positions Cerillo for rapid growth. CIT is excited to be a part of their journey and is looking forward to supporting the company as they continue to grow and make positive contributions to the industry.”
*Cerillo is a 2x CRCF/CCF award recipient*
CIT Press 2020-2021