Biostate AI Raises $12M in Series A Funding

Original from: genomeweb

Biostate AI said Tuesday that it has raised $12 million in a Series A financing round.

Accel led the round, joined by Gaingels, Mana Ventures, InfoEdge Ventures, Matter Venture Partners, Vision Plus Capital, and Catapult Ventures.

The funding will support the firm's RNA sequencing services for US-based molecular research. In a statement, Biostate AI said it plans to develop "clinically relevant predictive models."

"Biostate is building the foundation model for molecular medicine by pairing deep wet lab innovation with AI to unlock RNA-seq at unprecedented scale and affordability," Accel partner Shekhar Kirani said in a statement. "Just as OpenAI used massive datasets to decode language, Biostate is decoding the molecular signals that govern human health."

The Houston-based firm said it has raised $20 million to date and counts Twist Bioscience CEO and Cofounder Emily Leproust and 10x Genomics Chief Technology Officer and Cofounder Michael Schnall-Levin among its angel investors.

Last month, Biostate AI and Weill Cornell Medicine entered into a collaboration to develop assessments for acute myeloid leukemia.

Source: Biostate AI Raises $12M in Series A Funding