NEW YORK (GenomeWeb News) — NextBio said yesterday it has received $7 million in a Series B round of venture capital financing.
The company makes a search engine that can be used by life sciences researchers and clinicians. The cash will help the company expand the tool’s content, scale its infrastructure to “handle millions of queries, and build its community collaboration and data sharing features,” NextBio said in a statement.
The company also plans to “rapidly globalize” the use of the technology, according to NextBio co-founder and CEO Saeid Akhtari.
The round was led by Newbury Ventures and included existing investors. Newbury’s senior managing director Bruce Bauer will join NextBio’s board, the company said.