Bangalore based bioinformatics startup, InterpretOmics, has secured an Rs 10 crore funding from a group of investors.
Amarante, a Singapore based logistics solution company, has invested the funds along with MP Somaprasad and one other undisclosed Indian investor.
InterpretOmics, which started in 2009 has developed technology pertaining to Big Data Biology. It has pioneered solutions in genomics for Human healthcare, Bio-Agriculture and Bio-Energy.
Started by Prahalad H. Achutharao and Dr. Asoke Talukder, company provides research and analysis services in genome-scale data and has tools for Next Generation Sequencing (NGS), Bioinformatics Contract Research Lab (BiCRL) is a similar research service by the startup.
Speaking on the market size, Prahalad, Founder & CEO, InterpretOmics, told NextBigWhat, “The market for Next Generation Genomics is about $1.6 trillion and our solution is based on cloud which makes the market opportunity much higher for us, somewhere around $3 to 4 trillion”.
Firm has built a cloud based platform, iOMICS, which aggregates biomedical data that can be used by bioinformaticians, clinicians and computational scientists for analysis and interpretation.
Globally we compete with companies like DNAnexus, who are having the same line of products. The recent funding is just one of the first steps of the many we anticipate, added Prahalad
It boasts more than 11 customers like Govt. Biotech SME, Pharma, CRO, Healthcare Providers, Crop Science and many more.
Last year Delhi based startup, Vyome Biosciences, raised Series A financing round of Rs.18.50 crore from IndoUS Venture Partners (IUVP), with Aarin Capital and Navam Capital as co- investors. Company focuses on developing novel and innovative treatments for common skin conditions such as dandruff, acne, pigmentation disorders and wound healing.