Ocean Genomics, a developer of an AI-powered advanced computational platform that can assist biopharma companies in discovering and developing more effective diagnostics and therapeutics, received a strategic investment from Accenture Ventures, a venture capital investment arm of Accenture.
Terms of the investment transaction were not disclosed.
With fresh funds, the company plans to expand its software platform that assists biopharmaceutical companies in developing personalized therapies based on an individual’s unique biology.
As part of the funding, Ocean Genomics will join Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology startups with the global companies/investors to fill strategic innovation gaps. Project Spotlight also offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.
“With the support of, and collaboration with, Accenture, we will be even better positioned to help the biopharma industry develop more effective diagnostics and therapeutics,” said Carl Kingsford, Co-founder and CEO of Ocean Genomics.
Investors
“Ocean Genomics’ technology platform integrates gene expression, molecular features, clinical and genomics data and advanced AI algorithms to better understand and predict the biological impact of diseases and therapies,” said Tom Lounibos, managing director of Accenture Ventures. “With Ocean Genomics now part of Project Spotlight, we will look to collaborate with our clients in the Life Sciences industry and beyond on new ways to combine RNA, AI and other emerging technologies to advance drug development, personalized medicine, and human health.”
Genomics data startups
According to our funding database, genomics data intelligence startups have raised nearly $5 billion in funding to date. The latest funding deals in the genomics space include:
Variantyx, a genomics-data-powered precision medicine company providing advanced testing for rare genetic disorders, reproductive health, and precision oncology markets, secured $20 million in venture debt funding from Kreos Capital.
Ultima Genomics, a machine learning-powered DNA sequencing technology provider, raised $600 million in equity funding from leading investors, including General Atlantic, Andreessen Horowitz, Khosla Ventures, Lightspeed, and Founders Fund.
