Diligence memo · auto-generated · as of July 2, 2026
Mindstate Design Labs, Inc.
Mindstate Design Labs, Inc. looks fair against its niche peers and is quiet on financing cadence.
Businessfiled
Mindstate Design Labs, Inc. operates in Biotech, based in SOUTH SAN FRANCISCO, CA, USA. Clinical-stage AI neuroengineering platform
Sub-sector tags: AI, Biotech, Machine Learning, Mental Health Tech, Therapeutics, ai/ml, pharma.
Capital & rounds (filed)filed
Mindstate Design Labs, Inc. has raised $13M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $13M on 2024-11-08.
Most recent recorded round closed around 2024-11-08.
Valuation (modeled)modeled
Provath models Mindstate Design Labs, Inc. at approximately $56M (range $14M–$112M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.11× the median modeled value of Series A Biotech companies in 2022–2024 (12 peers) — value vs value, same stage and era. Within the normal band (111% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 20 mo ago; this sector typically re-raises about every 11 months.
Slightly overdue versus sector cadence.
Comparablesmixed
Capital scale ranks ahead of 87% of Biotech peers (233 compared).
Modeled value ranks above 84% of those peers.
Closest niche peers: Epsilon3, Inc., Salish Bioscience Inc., HB Biotech, Inc., Acoustic Wave Cell Therapy, Inc., Nurture Genomics, Inc..
Peoplefiled
3 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.