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CAMBRIDGE, Mass., Feb. 4, 2021 /PRNewswire/
Elucidata, a biomedical molecular data company, announced today that it has closed a $5 million pre-Series A funding round led by IvyCap Ventures. The financing round also included participation from Hyperplane Venture Capital and several angel investors.
This new round of funding will enable Elucidata to capitalize on its position as a leading provider of structured biomedical molecular data to the life sciences industry. The company plans to use the funding to accelerate product development, expand its commercial efforts, and continue hiring world-class talent. In the pharma industry, biomedical data of drug discovery is increasing in diversity and volume at a rapid rate, said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures. In this scenario, it gives us immense pleasure to collaborate with Elucidata which is driven by its vision of accelerating drug discovery. Their platform, Polly, makes