#USA #Austin #AI Platform #Seed Funding #DataJoint

DataJoint Receives $4.9M in Seed Funding

DataJoint, a pioneering computational database and AI platform, has successfully completed a seed funding round, raising $4.9 million to enhance data management and foster acceleration in research, particularly in fields such as neuroscience, oncology, and systems biology. The funding round was led by Nina Capital from Barcelona, Inoca Capital Partners from Salt Lake City, and Capital Factory in Austin, with contributions from other existing investors.

This financial backing is a testament to DataJoint's international appeal, as the company's investor base reflects its global potential in the commercial landscape. Currently, DataJoint retains customers and partnerships across various countries, emphasizing its capability to cater to a worldwide audience.

The freshly acquired funds will facilitate DataJoint's operations scaling, refinement of its proprietary SaaS platform, and increasing its market penetration into both academic and pharmaceutical sectors within the U.S. and Europe. Notably, DataJoint’s unique capability to harmonize diverse data sources and implement complex AI and machine learning workflows positions it well to tackle inherent inefficiencies in data management and research reproducibility worldwide.

A Visionary Beginning

The journey of DataJoint can be traced back to the vision of its CTO, Dimitri Yatsenko, whose background stems from a mix of engineering and academic prowess. Originating from Ukraine, Dimitri delved into computer science and cultivated a professional career in the U.S. He accrued invaluable experience working on database development focused on public safety and subsequently at a dot-com startup, laying a robust foundation for his future endeavors in tech.

His career trajectory took him through significant roles at GE Medical Systems, where he contributed to surgical imaging—a field requiring impeccable precision and stringent quality standards. Afterward, Dimitri joined Ripple Neuro, a neuroscience startup, propelling him to pursue a PhD at Baylor College of Medicine. His academic pursuits led to his involvement in another innovative venture, nView Medical, during which he recognized a critical gap in the scientific realm regarding data management and AI model development, driving him to create DataJoint.

Reshaping Data Management in Life Sciences

DataJoint's innovative platform is already embraced by over 100 laboratories across the U.S. and Europe, including elite institutions like Johns Hopkins, Harvard, UCSF, and UCL. It effectively automates various processes including data structuring, processing, and analysis, addressing significant challenges related to fragmented data management and reproducibility problems that typically plague research environments. With plans to delve into pharmaceutical collaborations, DataJoint will continue to engage with Academic Medical Centers that fostered its initial growth and development.

CEO Jim Olson stated, "This investment empowers us to expand our reach and deliver transformative solutions tailored for researchers and organizations operating in life sciences. With the indispensable support from Nina Capital, Inoca Capital, and Capital Factory, we are optimally positioned to scale our platform, presenting the power of advanced AI and data harmonization solutions to a broader market."

Investor Endorsements
Marta G. Zanchi, the Founding Partner at Nina Capital, acknowledges the platform’s unique functionalities, describing it as a revolutionary solution for data management and AI advancement within life sciences. She noted that DataJoint's ability to streamline workflows while boosting reproducibility is instrumental in propelling scientific discovery and innovation forward.

Chris Sheffert, Managing Director at Inoca Capital, emphasized the commercial potential inherent to DataJoint. According to him, the platform’s exceptional positioning allows it to effectively tackle the substantial challenges faced by commercial life sciences and pharmaceutical enterprises. He expressed excitement towards partnering with DataJoint as they work on scaling their influential technological solutions.

About DataJoint

Founded to remedy inefficiencies observed in both academic and pharmaceutical research laboratories, DataJoint offers a cohesive database infrastructure that integrates various multimodal data sources into fully automated workflows. The company’s SaaS platform is built on an open-source framework, with aspirations to attain SOC2, HIPAA, and ISO27001 compliance, thereby catering to a rapidly expanding client base spanning academia and industry.

About the Investment Partners

• - Nina Capital is a dynamic venture capital firm based in Barcelona, focusing exclusively on the interplay of healthcare and technology, supporting founders whose innovations drive data and compute advancements in healthcare since its inception in 2019.
• - Inoca Capital Partners, located in Salt Lake City, is a private equity firm dedicated to collaborating with strong management teams to achieve sustainable growth in sectors such as Data + AI and Healthcare.
• - Capital Factory operates as a central hub for entrepreneurs outside Silicon Valley, based in Austin, Texas, fostering connections between groundbreaking startups and potential investors since 2010.

Conclusion

With a strategic vision and a determined focus, DataJoint is set to redefine data management within the life sciences sector, empowering researchers and organizations alike to overcome existing challenges and embrace next-level scientific innovation. The recent funding marks a significant milestone in this transformative journey, underscoring the critical intersection of technology and healthcare in modern research environments.