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Phlow raises $37 million in Series C funding
August 6, 2025
Richmond pharmaceutical manufacturing company Phlow announced Tuesday that it had raised $37 million in a Series C funding round led by Align Private Capital.
The funding round, which was also supported by additional new and follow-on investors, contributed to the more than $93 million in private capital Phlow has raised since it was founded in 2020. The company has also secured more than $600 million in government contracts.
Phlow says the Series C funds will help accelerate its expansion in the U.S., with a focus on scaling the company and investing in AI-powered systems and advanced pharmaceutical manufacturing technologies.
“The most recent funding round for Phlow validates our vital mission and accelerates our ability to support small molecule API development and manufacturing programs for small and large clinical and commercial volumes,” Phlow CEO Dr. Eric S. Edwards said in a statement.
Phlow currently has two manufacturing plants in Petersburg and an R&D lab in Richmond. It specializes in developing and manufacturing active pharmaceutical ingredients for the federal government and the biopharma industry. The company has around 100 employees.
