Amsterdam and Hoboken-based health-tech startup Castor has bagged €10.1M in a funding round held in July 2020, led by Two Sigma Ventures with participation from Hambrecht Ducera Growth Ventures and previous investors INKEF Capital.
The startup will use the fresh funding to further invest in empowering patient-centric, data-powered clinical trials.
Founded in 2012 by Derk Arts, Castor is an international health-tech company that offers a cloud-based clinical data platform that streamlines and simplifies clinical trials processes, for scholars globally. It’s used by more than 50K users across academic circles and commercial research, fueling more than 4K studies with more than 2 million registered patients across 90 countries. Precisely, 192 medical devices, biotech, and pharmaceutical companies and contract research organizations (CROs) are using Castor’s platform. Since the onset of the coronavirus pandemic, the startup made its platform freely accessible for all kinds of not-for-profit COVID-19 research starting in February.
Castor is one of the few startups that can enable large-scale distributed trials to fast-track the work of researchers who are working day and night to fight the coronavirus disease. More than 200 COVID-19 projects across 33 countries are presently running on its platform, including the World Health Organization’s global trial called Solidarity. More than 10M COVID-19 data points have been captured and 50 COVID-19 projects have pledged to make their data reusable and available to others through Castor’s platform so that the world can join forces effectively to stop the disease.
CEO Arts was quoted to have said, “There are three key challenges that need to be addressed in the clinical trial space: making research more patient-centric, maximizing the impact of data on human lives, and better addressing the needs of under-served communities.”
Their goal is to help customers in maximizing value from existing and newly generated data throughout various clinical trial processes.
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