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Elucidata Raises $16 Million Series A To Reimagine Ai Infrastructure For The Life Sciences Industry

Sep 27, 2022•almost 3 years ago

Amount Raised

$16 Million

Round Type

series a

CambridgeLife ScienceBiotechnologyHealth Care

Description

Elucidata, a TechBio company that powers life science research & development (R&D) with its data-centric Machine Learning Operations (ML-Ops) platform, Polly, announced that it has raised $16 million in a Series A fundraising today. The round was led by leading global investment firm Eight Roads Ventures, with participation from F-Prime Capital, IvyCap Ventures, and Hyperplane Venture Capital. The newly infused capital will be used to deepen product capabilities in translational drug research and allied markets, scale go-to-market initiatives, and accelerate global expansion of operations.

Company Information

Company

Elucidata

Location

Cambridge, Maryland, United States

About

We are a pioneering life sciences MLOps company for the future that transforms biological discovery by integrating different forms of biomedical data. We support discovery programs at Pfizer, Bristol Myers Squibb, Genentech, Stanford and Yale and have 35+ research partners from premier biopharma companies and research labs. We are a 150+ multi-disciplinary team of experts based across the US, Canada, and India. In December 2020, we raised $5mn in a pre-series A round led by IvyCap Ventures. We have developed Polly, an industry-leading data-centric MLOps platform for life sciences. Its technology cleans and links 26 types of biomedical data at scale into an ML-ready form. Polly delivers 45 TB of ML-ready biomedical data from ~30 different sources to customers. The platform helps data science teams to scale up by providing them with curated ML-ready biomolecular data from public and proprietary sources. Inspired by the FAIR guidelines described by the NIH, Polly's OmixAtlases allow exclusive access to curated multi-omics data that is ready for ML workflows. Polly offers 10x faster identification of therapeutic assets with high odds of success in the clinic. It has enabled the detection of multiple validated drug targets across immunology, oncology, and metabolic disorders.

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