Flywheel, a Minneapolis based leading data management company active in the medical research and collaboration domain has announced securing US$ 15 million Series B funding on 3rd February 2021.
The recent investment round was co-led by the transatlantic venture capital, Beringia and the technology platform focused venture capital firm 8VC. Other investors that participated in the round include Hewlett Packard Enterprise, iSelect, Novartis DRX Capital, Great North Labs and Argonautic Ventures. As a part of this round, an additional funding from strategic partners is anticipated for closing in the coming 60 days.
William Blake III, the Vice President at Beringea said, “Flywheel’s impressive list of client institutions and enthusiastic adoption by world leaders in clinical and academic research prove the platform’s transformative potential. Its value proposition is not only as a market disruptor but as a tool to change the way life science research is conducted and help make life-changing discoveries faster. We’re excited to be part of this fast-growing Midwest Company and support the work of its passionately committed team.”
Flywheel helps various organizations in streamlining and scaling their research and machine learning workflows by its exclusive and updated cloud-based data management solution. The new cash flow will help the startup to deepen their presence in the artificial intelligence and life sciences market and thereby accelerate their product development for empowering the various digital transformation strategies of academic and clinical institutions, life sciences internationally.
Jim Olson, the CEO of Flywheel said “We are incredibly excited by the opportunities ahead for Flywheel as we enable healthcare and research organizations to accelerate innovation in imaging research, machine learning and clinical trials. This new round of funding will allow us to more quickly scale and grow our business to help more organizations improve scientific collaboration and accelerate discoveries that will change the way healthcare is delivered”
About Flywheel
Founded in 2012 by Brian Wandell, Gunnar Schaefer and Troy Kopischke, Flywheel is a growing research data platform, offering tools for data import, image processing, machine learning workflows, automated curation and securing collaboration. By making use of clouds scalability and automating the research workflows flywheel has helped various organizations in scaling, researching data, analyzing it, improving the scientific collaboration and accelerating the discoveries. They provide a whole range of comprehensive solutions in various domains like biotechnology academic and clinical research pharmaceutical and life sciences. The company is headquartered in Minneapolis with its offices in Washington DC, Bay Area and Budapest.
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