South Korea-based drug discovery platform Standigm has raised $11.5m in a series B round that included Kakao Ventures, the corporate venturing arm of internet group Kakao.
Financial services firm Mirae Asset Capital led the round through its Mirae Asset Venture Investment unit, participating alongside Atinum Investment, DSC Investment, LB Investment and Wonik Investment Partners. It increased Standigm’s overall funding to $15m, the company said.
Founded in 2015, Standigm has created a platform that uses artificial intelligence (AI) and machine learning technology to analyse existing biomedical databases.
The system seeks out hidden patterns in data that could form the basis for treatments targeting conditions such as Parkinson’s disease, mitochondrial diseases and non-alcoholic steatohepatitis. Standigm will invest the series B capital in expanding its AI technology and advancing its product pipeline.
The company raised $3m in a 2016 series A round backed by Kakao Ventures, then known as K-Cube Ventures, as well as LB Investment and Autism Investment.