US-based drug manufacturing informatics platform developer Bigfinite has completed a $15m series B round featuring Honeywell Ventures, the corporate venturing arm of industrial conglomerate Honeywell.
The round was backed by growth equity fund Atlantic Bridge and Catalonian government-owned financial institution Institut Català de Finances, along with venture capital fund La Famiglia and VC firms Uncork Capital and Crosslink Capital.
Founded in 2013, Bigfinite has built an artificial intelligence-driven data analytics platform that helps optimise the manufacturing of goods in highly-regulated industries such as pharmaceuticals and biotech.
The platform is designed to maximise the client’s output while maintaining regulatory compliance, incorporating predictive analytic tools to normalise workflow processes and identify relevant patterns during production.
Murray Grainger, managing director of Honeywell Ventures, said: “Manufacturers around the world, particularly those in highly regulated industries, are looking for new and innovative ways to use data to optimise their operations.
“Honeywell is pleased to make a strategic investment in Bigfinite, whose innovative platform will allow for life sciences manufacturing to be conducted in a faster and more productive manner, while enhancing compliance.”
The fresh capital injection brought Bigfinite overall funding past $23.5m, it said, and will be used to build out the market for its platform.
The company last disclosed $8.5m in a 2017 seed round co-led by Crosslink and Uncork that included industrial process instruments manufacturer Krohne and La Famiglia, after issuing $1.2m in convertible securities and options to undisclosed backers in 2016, according to a regulatory filing.