Genemod Raises $4.5M for developing a cloud-based platform to help life sciences
Designed specifically for the life sciences sector, the data storage and collaboration platform is developed by Seattle-based startup Genemod. It attempts to address the difficulties researchers encounter while managing and analyzing huge volumes of data produced during their investigations.
Genemod, a Seattle-based startup, raised $4.5 million in seed funding to support the development of a cloud-based platform to assist life sciences businesses and researchers in managing their data and workflows.
The business offers software for collaborative workspaces that centralises and organises research data and permits remote collaboration and real-time updates. Users can monitor progress, view data, and identify the contributors to modifications. Like Figma for designers or Jira for engineers, the goal is to establish this as the industry standard for research scientists.
About Genemod
Genemod is a Seattle based startup, creating a data storage and collaboration platform specifically for the life sciences sector. The business was established to help researchers manage and analyse the massive amounts of data that were produced during their investigations.
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Genemod's platform offers a centralised, secure location for archiving and organising genetic and experimental data. It enables researchers to effectively manage and search their data, facilitating information access and retrieval.
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No matter where they are physically located, scientists may collaborate and share data easily thanks to the platform's collaboration features.
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Genemod's platform provides scalability and flexibility by utilising cloud-based infrastructure, enabling researchers to manage the growing amount of data collected in their investigations.
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The platform aims to improve efficiency in the life sciences sector by streamlining research workflows and combining powerful data management capabilities with cutting-edge search and analysis technologies.
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Genemod recently received $4.5 million in investment, which will probably be used to enhance the functionalities of their platform. This could entail strengthening communication tools, data storage infrastructure, and investing in R&D to build better data analysis tools.
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The cash may also be used for marketing and customer-acquisition initiatives to promote platform adoption and raise platform awareness among the health sciences industry.
Genemod Received $4.5M For Life Science Data Storage And Collaboration Platform
Genemod aims to address issues with reproducibility, or the capacity for researchers to repeat an experiment and obtain the same results. Data demonstrates that research teams and businesses using digital solutions for data and operations management outperform those relying solely on pen and paper.
The additional funds will be used to grow the company's employees and its go-to-market activities. In October 2020, Genemod raised $1.7 million. The total amount of money is $6.2 million.
AstraZeneca, Bristol-Myers, Merck, Fred Hutchinson Cancer Research Centre, among others, are some of its clients.
The business offers collaborative workspace software that organises and centralises research material while enabling real-time changes and remote collaboration. Progress can be monitored, statistics can be viewed, and users can see the changes made by someone.
About The Founders And The Funding
Jacob Lee is the co-founder and CEO of Genemod.
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Lee is a former technology strategy and innovation engineer for Juno Therapeutics. Jin Choe, a former software engineer at General Atomics Aeronautical Systems, is his co-founder and CTO.
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Both the foundrs are grads from University of Washington.
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Dolby Family Ventures and Cercano Ventures joined the current round, which was co-led by existing investors Defy.vc and LDV Partners.
About Defy.vc
Defy.vc don't like to chase after hype. They embrace sincerity and are inspired by the perseverance required to build a risky business. They support outstanding individuals who can challenge the status quo. And celebrate their accomplishments and put a lot of effort into enhancing them.
One investment that can change a person's life can have an influence on an entire industry. So as they develop into tomorrow's visionary leaders, Defy.vc hope to be the partners of choice for the bravest company entrepreneurs of today.
LDV Partners
LDV Partners is a group of seasoned business developers, key opinion leaders, and anchor investors committed to fostering the success of entrepreneurs. In collaboration with business owners, they use the LDVP networks to increase your value and growth.
The LDVP team has excellent connections across the globe. Companies in the portfolio of LDVP have crucial access to talent, distribution, and marketing platforms.
LDVP generally invests in early-stage technology businesses in the following industries:
- Algorithms and Data Securitization
- Artificial intelligence and robotics
- smart businesses
- semiconductors
- and precision health