What’s The Big Data?
We identified over 90 companies that are applying machine learning algorithms and predictive analytics to reduce drug discovery times, provide virtual assistance to patients, and diagnose ailments by processing medical images, among other things.
A few investment highlights:
Increasingly crowded imaging & diagnostics: 17 out of the 22 companies under imagining & diagnostics raised their first equity funding round since January 2015 (this includes 1st Seed or Series A rounds, as well as a first round raised by stealth startup Imagen Technologies ). In 2014, Butterfly Networks raised a $100M Series C, backed by Aeris Capital and Stanford University. This was the third-largest equity round to AI in healthcare companies, after China-based iCarbonX ’s $154M mega-round and two $100M+ raises by oncology-focused Flatiron Health .
VCs invest in drug discovery: Startups are using machine learning algorithms to reduce drug discovery times, and VCs have backed 6 out of the 8 startups on the map. Andreessen Horowitz recently seed-funded twoXAR , developer of the DUMA drug discovery platform; Khosla Ventures and Data Collective backed Atomwise , which published its first findings of Ebola treatment drugs last year, and has also partnered with MERCK; Lightspeed Venture Partners invested in Numedii in 2013; Foundation Capital participated in 3 equity funding rounds to Numerate .
Khosla Ventures backs 5 companies: Khosla Ventures has been the most active VC investor in the space, having backed 5 unique companies: California-based Ginger.