MENLO PARK, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Medeloop, the pioneering medical research platform announces the close of its $15.5 million Series A funding round. Led by global venture capital firm Inovia Capital and supported by significant contributions from Icon Ventures, this investment underscores the strong confidence in Medeloop's mission to revolutionize medical research. The round also welcomed participation from previous investors General Catalyst and Maven Ventures, as well as new investors including Healthier Capital, Up2 Opportunity Fund, and CFO Advisors each bringing valuable industry expertise to support Medeloop's growth.
Medeloop's platform dramatically accelerates the pace of research by streamlining processes and employing autonomous AI agents to handle tasks traditionally requiring large teams. This innovation not only speeds up research but also democratizes it, empowering individual researchers and smaller institutions to compete with well-funded, large-scale operations. By transforming data into a graph database and enriching it with connections to external datasets, the analytics platform can perform analyses up to 1,000 times faster than traditional methods, paving the way for novel insights and transformative breakthroughs in medical research.
"I founded Medeloop driven by the personal mission of finding a cure for my daughter's Complex Regional Pain Syndrome (CRPS)-a condition still eluding effective treatment," explains Rene Caissie, CEO. "This experience revealed the inefficiencies in current medical research and the critical need for innovative solutions. Supported by leading investors like Inovia Capital and Icon Ventures, we've crafted a platform that accelerates research, reduces costs, and enables significant advancements in patient outcomes. Our goal is to revolutionize healthcare research, delivering profound impacts where they are desperately needed."
Building on this financial capital, Medeloop is set to expand its end-to-end AI-powered platform, which significantly simplifies the complexities of medical research. The comprehensive suite includes a grant platform for identifying and applying for funding, a dual-component studies platform featuring a mobile app for participants and a web app for researchers, a no-code analytics platform for rapid data analysis, and a manuscript publication platform. These tools are seamlessly integrated, designed to allow researchers to efficiently manage every aspect of a study from inception to publication.
"We couldn't be more excited to lead Medeloop's Series A, supporting Rene and his incredible team as they reinvent the tech stack for medical research," says Inovia Partner Magaly Charbonneau. "As we delved into the business, we spoke to dozens of researchers across North America and were impressed by their enthusiasm for the platform, which speaks to the profound impact Medeloop will have on their workflow, future innovations, and ultimately, patient outcomes. We can't wait to get Medeloop into their hands!"
About Medeloop
Medeloop is an AI-driven startup from Silicon Valley, revolutionizing medical research. Our platform automates the entire research cycle-from grant discovery to data analysis-by transforming medical data into a graph database for deeper insights and faster results. Founded by AI experts at Stanford, Medeloop partners with healthcare institutions worldwide to enhance research outcomes and accelerate innovations in patient care.
For inquiries please contact: [email protected]
About Inovia Capital
Inovia Capital is Canada's leading full-stack software investor, partnering with founders to build impactful and enduring global companies. With three investment strategies-Discovery, Venture, and Growth-the team leverages an operator-led mindset to provide founders with multi-stage support, mentorship, and access to a worldwide network. Inovia manages over US $2.5B with operations in Montreal, Toronto, Waterloo, Calgary, the Bay Area, and London. For more information, visit inovia.vc
About Icon Ventures
Icon Ventures believes that great companies start with extraordinary entrepreneurs. Icon Ventures is a best-in-class venture capital firm specializing in early-stage investments. With over $1.4 billion under management, Icon leads financings alongside the most successful early-stage venture firms in companies that are category winners. To date, Icon Ventures has had 37 successful exits, including Aster Data (Teradata), Bill.com (BILL), FireEye (FEYE), Infinera (INFN), MoPub (Twitter), Opcity (News Corp), Palo Alto Networks (PANW), Proofpoint (PFPT), Rockset (OpenAI) and Teladoc (TDOC). For more information visit iconventures.com.
