Algorithmic Biologics receives seed funding from Axilor Lab
Bengaluru (Karnataka) [India], January 11 (ANI/BusinessWire India): Algorithmic Biologics Pvt Ltd. (ABPL), a deep-tech startup building algorithms for molecular programming, today announced that it has received an undisclosed amount of seed funding from Axilor Lab.
Axilor Labs is a venture curation initiative by Axilor to accelerate commercial success of transformative ideas around global challenges facing human health and wellness. They aim to support ideas at the impactful proof-of-science stage and build start-ups together with innovators where the impact of transformative tech is realized commercially.
ABPL's platform technology works like a compression algorithm for molecular testing and has applications in healthcare, pharmaceuticals, agriculture, animal husbandry, food safety, synthetic biology, and molecular biology research. ABPL is working with leading brand names across industries to provide smarter molecular testing for food safety-related applications and seed R & D.
They began nine months ago with their patented rapid Covid testing solution and are extending their solution to other diagnostic tests. Their product Tapestry is already enabling affordable screening in campuses for Covid-19.
"Creating and curating ventures requires innate talent to come up with an idea, creativity to demonstrate product-market-fit, and operating skill to scale the effort. Throughout, we need capital. At Axilor Labs, all of these ingredients come together to bring cutting-edge scientific ideas into India's mainstream," said Dr. Tarun Khanna, Harvard Business School professor and co-founder of Axilor. "Our investment in Algorithmic exemplifies this approach. Together with Manoj, we are helping prove the business impact of this breakthrough technology."
"We are pursuing our vision of smarter molecular testing leading to better health for all," opined Founder and CEO, Dr. Manoj Gopalkrishnan ABPL. "We are deeply invested in science and technology, and are bringing cutting-edge ideas from molecular computing and computer science to molecular testing." Dr. Manoj Gopalkrishnan is a professor at IIT Bombay and an alumnus of the University of South California.
Algorithmic Biologics plans to use the funds to unlock and scale these applications commercially, as well as extend their IP portfolio to create more building blocks of molecular technologies towards its vision of creating a computing platform to enable us to talk to biological systems in the same way we analyze data.
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First Published: Jan 11 2022 | 11:30 PM IST