Lifebit is a cloud-based, cognitive system that can interpret and analyses DNA genome data like humans. The software continually learns from data and can provide more human and actionable insight for researchers as well as research and development teams looking at large-scale DNA analysis.
HOW THEY’RE DISRUPTING
Running on cloud servers reduces their customers computing costs by 80%, allowing large scaling and collaboration between teams. They have also developed an open-source solution and programming language for genomics, which is being used by four top pharmaceutical companies, including Unilever.
The bioinformatics market is forecast to reach $16.18bn by 2021. The UK and Europe bioinformatics market in particular is one of the biggest as it is backed by continual R&D research, and Lifebit can help save teams time and money by automating analysis.
INVESTMENTS AND FUTURE
Lifebit recently closed a $3m funding round from two major London funds after graduating from Techstars London 2017’s cohort, and are using the investment to scale Lifebit’s science and engineering team, and further develop their software. Investors include Pentech and Beacon Capital, amongst others.