Chicago AI-based biotech startup Nucleai raises $14 million led by M Ventures
Another Chicago-based AI-powered platform landed new funding this week. Learn more here. Nucleai, a Chicago AI-based biotech startup powered by artificial intelligence, has raised $14 million in a Series B round led by M Ventures, extending its total funding to $60 million. The new funding will allow Nucleai to deploy its AI-powered spatial biomarker technology and use its platform for clinical trials. The investment also supports existing investors and supports Nucai's work in the emerging areas of immunotherapies, antibody-drug conjugates and bi-specifics. The funding comes as the number of venture capital deals in the first quarter in 2024 has dropped to its lowest level since 2017.
Published : a month ago by Alex Zorn in Business Tech
Nucleai announced an extension to its Series B round this week that will help the Chicago health-tech startup powered by artificial intelligence get to clinical trials.
The new funding, totaling $14 million, was led by M Ventures, and brings Nucleai's total funding to date to $60 million.
The Series B extension will allow Nucleai to deploy its AI-powered spatial biomarker technology and deploy its platform to patients for clinical trials.
"M Ventures' investment boosts our ability to scale and deploy our spatial AI technology for patient enrollment in clinical trails and supports our work in the rapidly emerging areas of immunotherapies, antibody-drug conjugates and bi-specifics," said Nucleai CEO and co-founder Avi Veidman in a statement.
Nucleai first announced a $33 million Series B raise in 2022, led by Section 32 and Sanofi Ventures.
The new $14 million investment was also supported by existing investors as the startup's reach in the life-sciences sector continues to expand with collaborations with some of the biggest biopharama companies.
The new funding comes as the number of venture capital deals continued to fall in the first quarter in 2024, reaching its lowest level since 2017.
Topics: AI, Startups, Biotech