iLoF, an Oxford-based digital health company has raised $4.1 million in seed funding.
The round was led by Fab and saw the participation of US-based M12, Microsoft’s venture fund, Quiet Capital, Lunar Ventures, Alter Venture Partners, re. Mind Capital, Fluxunit, and angel investor Charlie Songhurst. The company has also secured a $900,000 grant from ERDF. It has raised $8 million in funding to date.
The funding will speed up ongoing engagements with global corporations in the pharmaceutical, biotech, and clinical space to fast-track current and future pilots.
Company: iLoF Group
Raised: $4.1M
Round: Seed Round
Funding Month: July 2022
Lead Investors: Fab and saw
Additional Investors: M12, Microsoft’s venture fund, Quiet Capital, Lunar Ventures, Alter Venture Partners, re.Mind Capital, and Fluxunit, Charlie Songhurst
Company Website: https://ilof.tech/
Software Category: AI-powered platform
About the Company: Founded by Mehak Mumtaz and Luis Valente, the AI platform accelerates the future of personalized drug discovery and development. Through advanced AI and photonics, it collects massive amounts of data to build a digital library of biomarkers and biological profiles. According to the company, this in turn enables biotech firms and pharmaceutical companies to make clinical trials faster, cheaper, and patient-centric.
Source: https://tech.eu/2022/07/28/uk-based-ilof-gets-eur4-million-shot-to-improve-personalised-drug-discovery/