Deeptech startup Algorithmic Biologics (AlgoBio) has raised $2.5 million in its pre-series A round led by Bharat Innovation Fund (BIF). The round also saw participation from Axilor Ventures
Earlier to this round, the startup had raised an undisclosed amount from Axilor Lab in January 2022.
The fresh proceeds will be used to support the product pipeline, build its sales team and expand its presence across geographies.
Founded by Manoj Gopalkrishnan, AlgoBio uses advanced algorithms and artificial intelligence to improve molecular testing efficiency and scale.
AlgoBio’s platform technology works like a compression algorithm for molecular testing and has applications in healthcare, pharmaceuticals, agriculture, animal husbandry, food safety, synthetic biology, and molecular biology research.
AlgoBio began with its patented rapid Covid testing solution and is extending its solution to other diagnostic tests. The company’s product Tapestry is already enabling affordable screening in campuses for Covid-19.
The startup recently partnered with Dhiti Omics Technologies, a molecular diagnostics services firm in India.