Algorithmic Biologics Raises $2.5 Million in Pre-Series A Round Led by Bharat Innovation Fund

• ByStartupStory     |    February 5, 2024

Deeptech startup Algorithmic Biologics (AlgoBio) has secured $2.5 million in its pre-series A funding round, led by Bharat Innovation Fund (BIF). Axilor Ventures also participated in the round.

Prior to this round, the startup had received an undisclosed amount from Axilor Lab in January 2022.

The fresh capital will be utilized to support AlgoBio’s product pipeline, expand its sales team, and enhance its presence across different regions.

Founded by Manoj Gopalkrishnan, AlgoBio leverages advanced algorithms and artificial intelligence to enhance the efficiency and scalability of molecular testing.

AlgoBio’s platform technology functions as a compression algorithm for molecular testing and finds applications in various sectors such as healthcare, pharmaceuticals, agriculture, animal husbandry, food safety, synthetic biology, and molecular biology research.

The startup initially focused on its patented rapid Covid testing solution and is now extending its technology to other diagnostic tests. AlgoBio’s product Tapestry is already facilitating cost-effective screening for Covid-19 in campuses.

Recently, AlgoBio partnered with Dhiti Omics Technologies, a molecular diagnostics services firm in India, to further strengthen its presence and offerings in the molecular testing space.

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