Biomedical data startup Elucidata raised $16 million in Series A led by Eight Roads Ventures

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Biomedical data startup Elucidata raised $16 million in Series A led by investment firm Eight Roads Ventures where F-Prime Capital, IvyCap Ventures, and Hyperplane Venture Capital also participated.

Elucidate provides the Polly SaaS platform, which gives researchers access to curated biomolecular data that can be used to derive insights and analysed via a graphical user interface (GUI). The funding will be used to expand the startup’s product capabilities in translational drug research and related markets. The funds will also be used to scale go-to-market initiatives and expand operations globally. According to Inc42, the overall Indian healthtech market will be worth $21 billion by 2025.

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Biomedical data startup Elucidata raised $16 million in Series A led by Eight Roads Ventures

Biomedical data startup Elucidata raised $16 million in Series A led by investment firm Eight Roads Ventures where F-Prime Capital, IvyCap Ventures, and Hyperplane Venture Capital also participated.

Elucidate provides the Polly SaaS platform, which gives researchers access to curated biomolecular data that can be used to derive insights and analysed via a graphical user interface (GUI). The funding will be used to expand the startup’s product capabilities in translational drug research and related markets. The funds will also be used to scale go-to-market initiatives and expand operations globally. According to Inc42, the overall Indian healthtech market will be worth $21 billion by 2025.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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