NEW YORK (GenomeWeb News) – Tute Genomics said this week that it has raised $1.5 million in a seed round of funding to advance its genome analysis software.
The company also said that it raised an additional $300,000 from AngelList, a fundraising platform for startups, through its new syndicate mechanism.
Investors in the seed round included Wilmington Pharmatech, Salt Lake Life Science Angels, Peak Ventures, Park City Angel Network, and individual angel investors.
Tute Genomics launched its first product for the next-generation sequencing data analysis space in the fall, as BioInform reported recently. The cloud-based genome interpretation platform "derives from the expertise underlying the ANNOVAR technology," which is an open-source program for functionally annotating variants found in species such as human, mouse, work, fly, and yeast.
ANNOVAR is written by Tute Genomics President Kai Wang, and the software uses proprietary machine-learning algorithms to prioritize clinically relevant genetic variants, genes, and pathways leading to improved disease gene and biomarker discovery work, the Salt Lake City-based company said.