Economy

A healthcare startup has raised $30 million for its 'Sophia' AI

A healthcare startup has raised $30 million for its 'Sophia' AI”

By enabling the rapid adoption of genomic testing worldwide, turning data into actionable clinical insights, and sharing knowledge through its community, SOPHiA GENETICS is democratizing Data-Driven Medicine to save lives.

A biotech offering artificial intelligence that can diagnose diseases by mining hundreds of thousands of patients' DNA data has completed a $30m (£22.6m) fundraising, backed by names including United Kingdom venture capital giant Balderton Capital.

The Swiss-based company, which has operations in Cambridge, has signed up more than 330 hospitals in 53 countries, including nine in the United Kingdom, and its software is used to diagnose more than 8,000 patients a month.

Sophia Genetics cofounder and CEO Jurgi Camblong told Business Insider that the funding will be used to hire more staff and further develop the company's software, which costs hospitals between $50 (£38) and $150 (£113) per patient. That's why the company provides its software-as-a-service (SaaS) platform to hospitals anywhere around the world - it needs participation from as many hospitals as are willing to sign up.

Sophia Genetics envisages a time when every medical interaction will begin with a genomic test that is corroborated with other patients' health records. It hopes to pave the way "for the new era of efficient personalized medicine", with itself at the forefront. "As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics, just as Windows did for PCs and Android has for smartphones, and SOPHiA GENETICS is already leading in this field", -James Wise, Partner at Balderton Capital.



Like this

Latest


13 September 2017
WhatsApp co-founder Brian Acton announces resignation, will start a non-profit
After the acquisition by Facebook, Acton was leading the engineering efforts at WhatsApp . He said that he plans to start a new chapter in his life and start a non-profit.

13 September 2017
Rohingya face ethnic cleansing — United Nations rights chief
On Sunday, Myanmar's government bluntly rejected a ceasefire proposed by militants in Rakhine after more than two weeks of bloodshed.

13 September 2017
Kane ready to stand and trade with Champions League heavyweights
Sissoko has rarely impressed in his time at Tottenham but was an effective presence in a central midfield role. Kane opened his Premier League account for the season on Saturday with two goals in a 3-0 win over Everton .

13 September 2017
POTUS: to Support Dems for Debt Ceiling Proposal
Trump and his administration pushed back against the idea siding with the Democrats; signing a law free from fiscal restraints. On Tuesday evening, the president and vice president are hosting a dinner with both Republican and Democratic senators.

13 September 2017
United States stocks climb to record as Irma threat recedes
France's CAC 40 edged up 0.3 percent to 5,191.40 in early trading, while Germany's DAX rose 0.4 percent to 12,521.93. The VIX "fear gauge" saw its biggest decline in nearly three weeks as financial and technology shares led gains.

13 September 2017
Destiny 2 developers to remove 'hate symbol' from game
Bungie made the announcement on Twitter that the resemblance was not intentional and the gauntlets would be removed from the game. Destiny 2 released on PS4 and Xbox One last week, allowing players to create female characters and characters of colour.

13 September 2017
The Machines brings AR competitive gaming to iPhone
Apple revealed perhaps the best showcase for its impending augmented-reality tech yet at its press conference earlier today. Atli Mar worked at CCP Games for a long time.

13 September 2017
Kangana Ranaut beaten by Aditya Pancholi in public
Coming to the current situation, he said, "Kangana has taken a stand against Aditya Pancholi, she should register a FIR. During this time, a white auto suddenly came and completely blocked the rickshaw on the corner of the road.

13 September 2017
Day After Ouster From AIADMK, Dinakaran Removes EPS From Party Post
In the meanwhile, they will continue to try and wean away the 19 legislators who are with Dhinakaran. The general council has decided to make the late Jayalalithaa the "eternal" general secretary.

13 September 2017
Missing girl found dead
As the body was found in a decomposed state, they could not immediately identify the cause of death. At about 5 pm on Saturday, she left her house at Satyanarayana Enclave in Deeptisri Nagar, Miyapur.



Recommended