Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 343.535 Million

AI Startup LabGenius Raises £2.6M to Develop ‘Evolution Machine’

London-based AI startup LabGenius, has raised £2.6 million in a Seed round led by Kindred Capital and Acequia Capital, and also backed by Berggruen Holdings Ltd, Backed VC, Beast Ventures and System.One.

The round also included Microsoft’s former head of corporate strategy Charlie Songhurst, and angel investor Tom McInerney.

Founded in 2012 by James Field and Rhys Algar, LabGenius aims at creating new biological materials by combining DNA synthesis technology with robotics and Artificial Intelligence.

Run by an eclectic team of of synthetic biologists, data scientists and engineer, the company has obtained R&D contracts from the UK Ministry of Defence and various multinationals.

It will now use the fresh infusion of cash to launch a facility in London and carry on with the development of EVA— an AI-powered “evolution machine” able to discover new molecules.

“EVA is a Silicon Scientist hooked up to a bank of liquid handling robots. By combining intelligence with empirical exploration, EVA is able to iteratively learn through conducting its own scientific experiments,” LabGenius founder and CEO Dr James Field said in a statement.

“Right now, EVA is unpicking Nature’s design rules with unparalleled speed and dexterity. Once equipped with this knowledge, EVA will give us the ability to engineer life with unprecedented control. Critically, this technology will give us the ability to harness new materials and therapies that we do not or even cannot fully understand.”

Kindred Capital founding partner Leila Zegna also commented on the new funding round: “We’re delighted to have backed LabGenius.” she said. “The company is breaking new ground at the interface of synthetic biology and data science and the potential of their technology is vast.”

Image via Facebook/LabGenius

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BY SHACK15

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