Team
88Best scientific founder in the current pipeline. She still runs the experiments the software is about. Commercial hire is missing.
Weight 30
Partner meeting
A copilot for protein characterisation labs that already own the instruments.
Best scientific founder in the current pipeline. She still runs the experiments the software is about. Commercial hire is missing.
Weight 30
Characterisation is a bottleneck in labs we already know. Budgets are grant-shaped, which cuts both ways.
Weight 25
€400k ARR, nine labs, love from users, no procurement pattern yet.
Weight 25
Workflow lock-in around the instrument data. Real, and local. Not a model advantage.
Weight 20
Investment memo
Screened 6 Oct 2026Pre-written. The replay is simulated.
Sable writes the experiment up while the instrument is still running. Users in nine labs pay. The seed is €9m at a €28m pre, which is a full price for €400k of ARR and a founder we rate. Overlap with Cinder is the first question, not the last.
Two instrument vendors are looking for a software partner before their next release cycle. If Sable signs one, distribution is solved and the price will move. If they sign neither, we have time.
A desktop and LIMS-side app that captures runs, flags bad curves, and drafts the methods paragraph. It does not design proteins. That restraint is why the scientists trust it. It is also why the TAM slide is smaller than the founder’s last company wanted it to be.
Seat plus an instrument connector fee. Sales are founder-led and will stay that way until someone else can walk into a lab. Gross margin is fine. The GTM is the company.
Do not advance past the partner meeting until Tomasz lays the Cinder account list next to Sable’s pipeline. If the overlap is real, we help Cinder and we wish Sable well. A 4 out of 9 is not a reason to blur the book.