On the back of signing a large contract with a major pharmaceutical company, PetaGene, a genomics data compression company, has attracted another $2.1 million in funding led by Romulus Capital. The latest investment brings PetaGene’s total funding to $3.2 million. The new funding will help the company grow its technical team based at in Cambridge, its global sales team and further expand PetaGene’s product offerings. Romulus Capital is an early stage VC fund founded out of MIT in 2008. It focuses on building technology and science-enabled companies. It seeks to invest in companies selling technology that solves real problems in large traditional industries or deep technology companies that have spun out of top-tier research groups. Krishna K. Gupta, Indian American founder and general partner of Romulus Capital, commented, “I was impressed by what part of the genomics value chain PetaGene was targeting with its best-in-class compression software when we made our initial investment in 2017. Since then, their ability to successfully develop their product for the cloud and the strong interest from potential customers have only served to reinforce our view.” He went on to say that “PetaGene offers powerful solutions for a growing industry and we’re delighted to support them as they play their part in democratizing personalized medicine.”
Earnin Closes $125 Million Series C Round
Earnin, an app that allows anyone with a job and a bank account to get paid the minute they leave work, announced the close of a $125 million round of equity financing. Earnin emerged as one of the fastest-growing finance apps in 2018. It allows people to access their pay the minute they leave work, with no fees, interest, or hidden costs. People simply tip what they think is fair and receive their money in their bank account instantly. As a financial company that puts people first, Earnin is giving Americans better control of their money, allowing them to absorb unexpected expenses and avoid predatory financial products. Its community includes workers from more than 50,000 employers across all 50 states, logging a combined 15 million hours of work a week. “We’ll continue to shine a spotlight on unfairness,” said Earnin founder and CEO Ram Palaniappan. “Our work doesn’t end with the pay cycle. We will expand our team and develop new partnerships, but most importantly, continue to drive awareness around the financial challenges faced by so many Americans.” Earnin will only give you money for hours that you have already worked and will not act if a member of their community suffers a hardship and is unable to repay. "We’re excited to partner with Ram and his team to help reduce the financial stress of working Americans,” said Rahul Mehta, managing partner at DST Global.
Relay Therapeutics Secures $400M in Series C Financing
Relay Therapeutics, a new breed of company at the intersection of computation and biotechnology, completed a $400 million Series C financing round. Relay Therapeutics combines unprecedented computational power with leading-edge experimental approaches across the fields of structural biology, biophysics, chemistry and biology. The integration of these disparate disciplines, tools and cultures enables Relay Therapeutics to overcome challenges that prior attempts have failed to solve and to design therapies against validated but previously intractable targets. Relay Therapeutics’ initial discovery programs in cancer have led to the development of highly selective inhibitors of disease-causing proteins in genomically defined patient populations. “We are at a unique moment in the evolution of drug discovery where we can realize the promise of integrating ever more powerful experimental and computational discovery tools to tackle previously undruggable protein targets. The success of our early programs validates the potential of our platform to create breakthrough therapies that address a broad range of diseases,” said Sanjiv Patel, M.D., president and CEO of Relay Therapeutics. “We are proud to support Relay Therapeutics’ world-class team expand its efforts across a larger number of programs and therapeutic areas to develop tomorrow’s life-saving treatments,” said Deep Nishar, senior managing partner at SoftBank Investment Advisers.
Ottopia Closes $3 Million Funding Round
Ottopia, a technology company focused on remote assistance for self-driving cars, has closed $3 million in seed funding, led by MizMaa Ventures. Amit Rosenzweig (CEO) and Leon Altarac (CTO) founded Ottopia in 2018. Prior to that, Altarac founded the Robotics and AV branch of the Israeli Army, where he spent the last decade designing various AVs and teleoperation solutions for real-life missions. Rosenzweig was head of product for Microsoft’s leading cybersecurity offering, as well as VP of product for a low-latency video transmission company. Before that, he led R&D projects for Israeli intelligence and graduated from the prestigious Talpiot program. Ottopia plans to use the funds to expand its R&D team and collaborate with AV companies to prove the versatility and enhanced safety of its platform. “Our platform addresses all the core challenges in teleoperation, like network connectivity, safety and cybersecurity,” said Rosenzweig, “And the feedback so far from key players is very encouraging.”
Agile CRM Recognized as a Leader in the CRM Space
Agile CRM was recently ranked as the seventh most popular customer relationship management solution by Capterra, a world-renowned business software review site. Capterra also ranked Agile CRM as one the top 20 most user-friendly CRM solutions. In addition, GetApp, a leading business app and software discovery platform, recently ranked Agile CRM as the number two leading CRM solution in the entire CRM space. Since launching in 2013, Agile CRM has risen from a lesser-known CRM provider to a leader in the CRM industry. This is largely due to the fact that Agile CRM is an all-in-one solution, meaning that in addition to providing traditional CRM capabilities, it also delivers full sales, marketing, and customer service modules on the same platform. “Being ranked in the top 20 in both Capterra categories is quite humbling,” said Agile CRM founder and CEO Manohar Chapalamadugu. “And being ranked second by GetApp, behind only Salesforce, is incredibly encouraging. Over the last few years, we have increased our focus on delivering the best customer experience possible to ensure our customers are successful using our product. These rankings validate our efforts and encourage us to work even harder to deliver a world-class customer experience.”