NEW YORK – Biological data analysis firm LatchBio said Thursday that it has closed a Series A funding round worth $28 million. Coatue and Lux Capital led the round, with participation from new investors Hummingbird Ventures and Caffeinated Capital, plus existing investors Haystack and Fifty Years.
San Francisco-based LatchBio offers a web-based technology platform for researchers to store, analyze, and visualize multiomics data without the need for programming or other technical skills. The LatchBio platform features an automated software development kit to create interfaces to bioinformatics pipelines and visualization tools including CRISPResso2, DeepMind's AlphaFold 2, and various RNA sequencing processors.
Customers include the Innovative Genomics Institute, Bit.Bio, and Eligo Bioscience.
"We remain obsessively focused on building a platform that hosts the best biocomputing workflows and other tools that scientists love to use and that enable them to accelerate scientific progress," Alfredo Andere, cofounder and CEO of LatchBio, said in a statement.
"The datasets generated by today's scientific experiments are growing at an exponential rate, but many biologists lack the computational tools they need to rapidly analyze and iterate using the results of their experiments," added Coatue General Partner David Cahn. "Coatue looks forward to supporting LatchBio’s ambition to create the necessary infrastructure to hasten the pace of discovery and translational research — and importantly, help get more lifesaving therapies into the clinic."