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Elucidata Raises $16 Million Series A to Reimagine AI Infrastructure for the Life Sciences Industry

CAMBRIDGE, Mass., Sept. 27, 2022 /PRNewswire/ -- 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.
Elucidata Raises $16 Million Series A to Reimagine AI Infrastructure for the Life Sciences Industry
Successful AI/ML initiatives are built on high-quality data. Elucidata's platform Polly, enables pharmaceutical and diagnostic companies to adopt a data-centric approach for successful AI/ML initiatives. Polly provides R&D teams access to clean, curated biomolecular data that can be queried and analyzed over a graphical user interface (GUI) or programmatically.Used by leading life sciences companies on over 2.5 million biomolecular datasets, Polly leverages proprietary Bio-NLP technology to rapidly curate biomedical data with human-levels of accuracy, making it machine learning-ready (ML-ready)."Organizations often underestimate the importance of data quality, and as a result, a lot of AI/ML initiatives are compromised. We're on a mission to derisk such initiatives in life sciences R&D by empowering them with high-quality biomedical data at every stage of the R&D process," said Dr. Abhishek Jha, CEO, and Co-Founder of Elucidata. "The new infusion of capital is a testament to how Polly is creating value for its customers by cleaning and linking data at scale. I am thrilled to have world-class investors at the table as we continue to build a category-defining company.
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