Research Grid secures £5m in seed funding led by Fuel Ventures to expand clinical trial automation
The seed round was led by Fuel Ventures to support research and development and international expansion.
Research Grid is an artificial intelligence startup that automates back office administration for clinical trials. The company provides software solutions designed to manage the full life cycle of medical research.
Research Grid has secured £5m in a seed round led by Fuel Ventures. The funding will support research and development efforts, engineering team expansion, and international growth into markets across the US and Asia.
The company has developed platforms including Inclusive and TrialEngine to handle patient recruitment and trial management. These products use artificial intelligence algorithms to automate workflows and reduce administrative burdens for medical research institutions.
Participation in the round came from several institutional backers and angel investors, including Arve Capital and Morgan Stanley Inclusive Ventures Lab. The investment follows increased industry focus on modernising administrative processes in clinical research.
From the founder
"I spent 14 years as a medical researcher, and I would spend hundreds of hours copying data from one system to another. The back-office process is completely broken. When you multiply this across the industry the costs for patients and research institutions are astronomical."
Amber Hill
founder and CEO at Research Grid
Investor perspective
"We are committed to backing the most innovative and disruptive businesses in the country, and our investment into Research Grid reinforces this. While AI is making significant waves in drug discovery, clinical trials are still the main barrier to medicine reaching the people who need it, and Research Grid is strategically placed to exploit the urgent demand of automating clinical trials at scale. Its rapid growth has shown that the market is largely green-field, with validation from across the industry in the U.S. and Europe, including big pharma, contract research organisations and sites. Every investor wants to find unicorns, and with the clinical trial market expected to reach over $95 billion in the next five years, we believe in the mission, proposition and trajectory of Research Grid."
Shiv Patel
Partner, Fuel Ventures
Use of funds
- 01Fund research and development
- 02Grow the team
- 03Invest in sales and marketing
- 04Expand into international markets
Investors
Shiv Patel
Fuel Ventures
Arve Capital
Ada Ventures
Morgan Stanley Inclusive Ventures Lab
Arāya Ventures
Ascension Ventures
Plug and Play Ventures
Atomico Angels
Categories
About the company
Research Grid
Research Grid develops artificial intelligence software to automate clinical trial administration.