Elucidata, a biomedical molecular data company, on Tuesday announced that it has raised $16 million in its Series A funding round led by global investment firm Eight Roads Ventures, with participation from F-Prime Capital, IvyCap Ventures and Hyperplane Venture Capital.
The newly infused capital will be used to deepen product capabilities in translational drug research and allied markets, scale go-to-market initiatives and accelerate global expansion of operations, the startup said in a statement.