Sofia, 8 December 2025: The Bulgarian–British startup Lab Thread announced today the release of the Beta version of its SaaS platform for managing genetic and research laboratories. This milestone comes six months after the company secured a $1 million investment from the Midlands Engine Investment Fund II through Mercia Ventures.

Lab Thread was founded by Deyan Sultov, whose team has successfully developed several technology projects (Doctor in the House, Every Education, My Minibus Manager, among others), and Ryan Cawood, who in 2021 sold the biotech company OXGENE for $135 million. The company is building a solution for one of the fastest-growing segments of the global market — precise digital management of laboratory processes. According to expert forecasts, the market for Laboratory Information Management Systems (LIMS) is expected to reach $5.19 billion by 2030, with an annual growth rate of 12.5%.

“Across the world, scientists still record experiments on paper, manually transfer data between different instruments, and lose traceability at critical moments. This leads to errors. At the same time, existing systems either don’t meet their needs or are too expensive and complex. Our goal is to provide small and medium-sized biotech companies with an affordable solution that reduces administrative burden and enables scientists to focus on real science,” commented Deyan Sultov.

The platform integrates all key processes in laboratory research — easy input and consolidation of experimental data, creation and visualization of genetic models, real-time task planning and management, automated collection and analysis of results, and tracking of samples and materials. Additionally, Lab Thread’s fully subscription-based model ensures predictable costs and eliminates the high upfront fees typical of competing solutions.

Lab Thread is headquartered in Silverstone, UK, with its engineering center based in Sofia, Bulgaria. The Bulgarian team currently numbers 10 people, and is expected to triple by mid-2026 with new specialists. This expansion is part of preparations for the commercial launch of the platform, scheduled for the second quarter of that year.

“We are ready to scale, and the release of the Beta version is proof of that. Over the coming months, we will focus on user feedback, refining the product, and preparing for its official debut. There is a clear market shortage of accessible, modern tools that can catalyze scientific discovery, and we are determined to fill this gap,” added Deyan Sultov.

More information about Lab Thread, the platform, and its development is available at www.labthread.com.

About Lab Thread

Lab Thread Bulgaria, founded in 2023 and acquired by Lab Thread UK in 2024, develops next-generation software for life-science research laboratories. The platform addresses the challenge of fragmented workflows — where project management, lab operations and scientific data often live in separate silos. Lab Thread brings them together into a unified environment designed specifically for biologists.