Bengaluru and US-based data analytics firm, Algorithm has raised over USD 161,000 in seed funding from a group of angel investors. The raised funding will be used to push sales and marketing.
As per a VCCircle report, “The firm is raising funding from top executives from the life sciences industry,” said a source familiar with the deal.
The company was founded about an year ago by Ananthakrishnan, Nicholas Hargaden and Abby Abraham, Algorithm has developed a platform named Acuity, an integrated data analytics and risk management platform to reduce cost and enhance decision making in clinical research.
Previously, the firm had also received prize money from Rice Alliance for Technology and Entrepreneurship in the US.