The Silicon Valley-based AI medtech company completed its Series A with participation from Toronto-based Radical Ventures, along with a bevy of well-known VCs like Menlo Ventures and Andreessen Horowitz, which led the company’s seed round. Baltimore-based Rock Springs Capital led this round. (TechCrunch)
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The Silicon Valley-based AI medtech company completed its Series A with participation from Toronto-based Radical Ventures, along with a bevy of well-known VCs like Menlo Ventures and Andreessen Horowitz, which led the company’s seed round. Baltimore-based Rock Springs Capital led this round. (TechCrunch)
Talking point: Radical Ventures, co-founded by Tomi Poutanen, an early AI pioneer and a founder of the Vector Institute for Artificial Intelligence, deploys its capital almost exclusively in AI startups. Genesis applies AI deep learning technology to speed up the development of drugs. According to PitchBook data, the company had raised US$4.10 million in seed funding in April 2019, and an undisclosed amount from Ulu Ventures in seed capital this past June, before landing the US$52-million raise. Company CEO Evan Feinberg said Genesis will use the financing in the “aggressive expansion” of drug hunters, AI researchers and software engineers.
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