Home Breaking News San Diego based Nanome start up raises USD 3 Million

San Diego based Nanome start up raises USD 3 Million

California based start-up Nanome has raised USD 3 Million on 8th of February, 2021 in seed funding round led by Bullpen Capital and Formic Ventures. The company’s aim is to expand their engineering and science team and establish new business partnerships. 

Investors: The capitalisation of USD 3 million funds took place in the round led by Formic Ventures and Bullpen Capital along with the participation from previous investors like Keshif Ventures, Colopl Next and VIVE X. 

What the funding is for: The fresh funding acquired would be utilized for expanding their reach to even education, synthetic biology and pharmaceutical chemistry. According to sources the company is also aiming to develop and advance their structure and expand their portfolio all over the globe. 

Founder of the company: Edgardo Lejia, Keita Funakawa , Samuel Hessenauer and Steven McCloskey. 

Founded date: August 30, 2016 

About the company: Nanome is a privately held organization which operates under the computer software industry. Its headquarters is established in San Diego, California and has a work strength of approximately 11-50 employees. They deal with various specialties like molecular modelling, bio-technology and virtual reality. Nanome is basically a software organization which changes the way humanity interacts and learns about science through their virtual reality technology which accelerates the innovation and understanding of people in an ingenious manner. 

What the CEO has to say: “Nanome helps scientists get on the same page quicker. Traditionally scientists working with molecules use screenshots or screen sharing and rely on zoom and mouse cursor to communicate their insights and ask for feedback from their team members. Nanome streamline this process by bringing researchers to the same virtual reality space to work on molecule development together”. Said Steven McCloskey, Co-founder of Nanome. 

“Understanding the structure empowers our users to understand their designs function. Yet the R&D process for drug discovery relies on 2D monitors, keyboard and mouse which limits the understanding of complex 3D structures or interactions and contributes to massive R&D costs averaging USD 2.5 billion per drug”. Said Edgardo Lejia, Co-founder of Nanome. 

What the investors have to say: “Research and discovery of new molecular substances is an expensive business and comes with development costs exceeding USD 10 billion per substance in some cases. Part of that comes from the need to closely examine every relevant molecule studying its chemical compositions and interactions as well as its physical structure at its atomic level”. Said General manager at Bullpen Capital.

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