$60 million raised in Series B funding for Causaly’s AI-powered research platform

Causaly, an artificial intelligence platform for biomedical research, has announced its success in raising $60 million in Series B funding, bringing the total funding raised to $93 million which will be utilised to “extend Causaly’s product lead and expand commercial relationships”.

The Series B funding was led by ICONIC Growth and saw participation from returning investors Index Ventures, Marathon Venture Capital, EBRD, Pentech Ventures and Visionaries Club.

Causaly hopes that their solution can be harnessed to help “untangle” some of the “complex and unsolved diseases of our age”, including Parkinson’s and multiple sclerosis.

They note that their hybrid approach, which is said to combine “a best-in-class knowledge graph with the latest advances in generative AI”, is designed to support researchers in conducting in-depth scientific enquiry. The technology is being adopted “at scale” by research teams in “diverse workflows from target identification to biomarker discovery”, with Causaly stating that results demonstrate “a 10x productivity gain, novel discoveries, and ultimately, a higher success rate of preclinical programs.”

Yiannis Kiachopoulos, co-founder and CEO of Causaly, says: “Knowledge is the lifeblood of research organisations, and we are committed to our mission to make it discoverable, working with our customers to make sense of their scientific data and apply insights to enable evidence-driven decisions.”

Last month, we highlighted some of the research being conducted across UK universities to utilise AI for diagnosis and screening in conditions including breast cancer and dementia, and shared how Leicester, Leicestershire and Rutland ICB has adopted AI technology to support the diagnosis process for patients with suspected skin cancers.

Also on the topic of AI, in May we had the opportunity to discuss the the uses of AI to tackle length of stay with members of the NHSE blueprinting team.

We also looked at the £21 million in funding for AI announced in June to help “roll out artificial intelligence across the NHS”, intended to accelerate “the deployment of the most promising AI tools”.