Noted data science company Elucidata Corporation announced this week that it has raised $1.7 million in seed funding. According to a statement put out by the Cambridge and New Delhi-based company, this financing round was led by Hyperplane Venture Capital along with several prominent angels.
— Elucidata (@elucidatacorp) June 19, 2018
Elucidata’s products are designed to take researchers from raw data to biological insights swiftly and efficiently. Their key goals are designing for reproducibility, ease-of-use, and speed. They also collaborate with noted academic and industrial labs in the fields of metabolomics, genomics, transcriptomics, and integrated omics to bring the latest techniques to their partners.
“The way biological data is used to drive discovery in the industry is often slow and cumbersome. Our mission is to address the needs of all the very talented scientists who are discovering new life-saving drugs. They are sitting on very exciting datasets but are still manually crunching through spreadsheets to analyze vast amounts of data,” said Elucidata co-founder Abhishek Jha in a statement.
Elucidata’s important tool is PollyTM, a cloud-based data analytics platform which drastically transforms the end-to-end drug discovery process and allows for more rapid data turnaround and analysis. Elucidata’s innovative metabolomics platform, released in 2018, is an extendable platform that can easily adapt to many types of data workflows and features an array of applications which can process, analyze, integrate, and visualise biological data. Almost one-thousand -omics datasets were uploaded to Polly by scientists across the world in the last month alone.
— Vivjan Myrto (@VivjanM) June 19, 2018
Vivjan Myrto, Managing Partner at Hyperplane Venture Capital said in the statement, “Elucidata’s platform has the potential to improve countless lives — from those suffering from diabetes to a wide range of other diseases. The impact on metabolomics is far-reaching, and I don’t even think we can truly imagine how Elucidata’s platform will enable vital drugs to get to the people who need them in the future.”