Elucidata, a Cambridge, Mass.-based biomedical molecular data company, closed a $5m pre-Series A funding.
The round was led by IvyCap Ventures with participation from Hyperplane Venture Capital and several angel investors.
The company intends to use the funds to accelerate product development, expand its commercial efforts, and continue hiring talent.
Led by Abhishek Jha, Co-founder and CEO, Elucidata is a provider of structured biomedical molecular data focused on developing Polly, a proprietary cloud platform for drug discovery. With Polly, scientists can get access to curated and analysis-ready data from over 100,000 biomedical datasets.
Elucidata launched the product in April 2019 and now has over 30 partners in industry and academia as its customers.
The company was founded in 2015 by Jha, a University of Chicago and MIT graduate, IIT Delhi graduate Swetabh Pathak, and Dr. Richard Kibbey (MD PhD) at Yale School of Medicine. It has offices in Cambridge (MA), San Francisco, New Delhi and Bangalore.