Eagle Genomics, a Cambridge, UK-based provider of bioinformatics software and services across a wide range of the life science and other sectors, held a £590k first close of a planned £1m round.
The round was led by Midven’s Rainbow Seed Fund with participation from Jonathan Milner (CEO of Abcam) and other Cambridge Angels, members of London Business Angels (LBA), Cambridge Capital Group, and others.
The company intends to use the funds to expand its offerings, including the development of ElasticAP, a SaaS subscription platform, which will enable customers to analyze data through the cloud, and its consulting business by entering non-traditional areas for bioinformatics such as consumer goods, food safety and animal health.
Led by David Flanders, CEO, Eagle has over 30 customers worldwide from the large pharmaceutical, biotechnology, crop science, bio-fuels, personal hygiene, and animal health sectors.
According to a written note, the second closing will take place within three months’ time with the aim of completing the £1m total.