AI Startup Research Grid Raises $6.5 Million in Seed Funding
Research Grid, an AI startup that focuses on helping medical research institutions automate administrative tasks for clinical trials, recently announced that it has secured $6.5 million in seed funding. The funding round was led by Fuel Ventures, with participation from Ada Ventures, Arve Capital, Arāya Ventures, Morgan Stanley Inclusive Ventures Lab, Plug and Play Ventures, Atomico Angels, and Ascension Ventures.
What Research Grid Does
Research Grid offers an AI-powered automation engine for admin-free clinical trials. The company’s two main products, TrialEngine and Inclusive, allow customers to effectively manage the entire life cycle of clinical trials, from pretrial to trial close, by automating data management and administrative workflows.
Inclusive specifically focuses on patient engagement and recruitment, while TrialEngine handles the administrative, reporting, and data workflows during a clinical trial. By leveraging AI technology, Research Grid aims to streamline and optimize the process of conducting clinical trials.
The recently secured funding will be used to expand Research Grid’s workforce, invest in research and development, and further enhance its AI technology. The company also plans to strengthen its marketing and sales efforts and expand its presence in both Asian and U.S. markets.
Market Snapshot
Research Grid operates in a competitive landscape alongside other companies in the clinical trial space. One such company is Antidote Technologies, a digital patient engagement firm that offers a platform for clinical trial patient recruitment, screening, and support services.
In July, Antidote announced a partnership with SEQSTER, a healthcare data platform, to improve patient matching for clinical trials based on genomic data, lifestyle factors, and medical history.
Flatiron Health, an oncology-focused digital health company acquired by Roche in 2018, is another key player in the industry. In May, Flatiron collaborated with the Association of Cancer Care Centers to enhance access to clinical trials, improve study efficiency, and optimize data collection.
Other notable companies in the clinical trial space include Inato, Science 37, Paradigm, and the Digital Medicine Society (DiMe), all of which contribute to shaping the future of clinical research.
