Total amount raised
$56.7 Millions
Latest funding date
01/01/2020
Location
Title
Deep Genomics has successfully raised significant funding over multiple rounds, positioning itself as a leader in the development of RNA therapies using artificial intelligence. The company's AI platform is designed to identify the best therapeutic candidates for complex genetic diseases.
Keep reading to explore the intricacies of Deep Genomics' fundraising journey and the investors backing this innovative platform.
What Is Deep Genomics?
Deep Genomics, founded in 2015, is headquartered in Toronto, Ontario, Canada, with an additional office in Cambridge, MA, USA. The company was established by Brendan Frey, a pioneer in the field of artificial intelligence and RNA biology.
Specializing in the development of RNA therapies, Deep Genomics leverages its proprietary AI platform to identify and develop treatments for complex genetic diseases. Their mission is to program RNA therapies for any gene and any genetic condition.
With a growing team, Deep Genomics continues to push the boundaries of AI-driven drug discovery, aiming to bring innovative solutions to the forefront of genetic medicine.
How Much Funding Has Deep Genomics Raised?
- Seed Round
- Amount Raised: $3.7 million
- Date: November 18, 2015
- Lead Investors: True Ventures, Bloomberg Beta, and other global angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team of experts in machine learning and genome biology, and to further develop and validate the proprietary technology.
Deep Genomics has raised a total of $3.7 million. The current valuation is Not publicly disclosed.
Key Investors
- True Ventures
- Details: True Ventures is a venture capital firm based in the Bay Area, known for its early-stage investments. The firm focuses on providing seed and Series A funding to startups.
- Investment Focus Areas: Technology, Consumer Products, Healthcare
- Notable Investments: Fitbit, Peloton, Ring
- Bloomberg Beta
- Details: Bloomberg Beta is a venture capital firm backed by Bloomberg L.P. It specializes in early-stage investments, particularly in companies leveraging data and machine learning.
- Investment Focus Areas: Data, Machine Learning, Enterprise Software
- Notable Investments: Codecademy, Knotel, Slack
- Other Global Angel Investors
- Details: This group consists of individual investors from around the world who provide capital for startups in exchange for ownership equity or convertible debt.
- Investment Focus Areas: Varies widely depending on the individual investor
- Notable Investments: Not publicly disclosed
What's Next for Deep Genomics?
Deep Genomics stands at the cusp of a transformative era in healthcare, leveraging machine learning to decode genetic mutations. The potential applications in diagnostics, personalized medicine, and pharmaceuticals are vast, promising significant advancements in hyper-personalized treatments and major pharmaceutical developments.
As the company continues to validate its technology, future fundraising opportunities seem promising. The initial success of their seed round suggests that further investment could be on the horizon, enabling them to expand their team and refine their genetic interpretation engine. However, challenges such as integrating deep learning with genome biology and scaling their technology for practical applications remain.
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