NEW YORK – Bioinformatics startup MiLaboratories said Thursday that it has closed a $10 million Series A funding round to support commercial efforts for its genomic data analysis platform.
The round was led by Madrid-based Kfund, with additional contributions from Speedinvest, Acrobator Ventures, Ten13, Somersault Ventures, EGB Capital, and Courtyard Ventures.
With the money raised, MiLaboratories plans to "significantly scale its operations," with a focus on the US market.
The San Francisco-based company, which has an R&D facility in Bilbao, Spain, has also launched its Platforma.bio Software Development Kit (SDK), a bioinformatics software that promises to streamline next-generation sequencing data analysis and is available to academic scientists free of charge.
"We believe that opening our platform to the developer community will accelerate the adoption of modern computational tools, setting the next level of biomedical research," MiLaboratories CEO Stan Poslavsky said in a statement. "Our mission is to make cutting-edge computational advances accessible to researchers as they work towards discovering new drugs."