Bioinformatics-focused Big Data startup InterpretOmics raises $1.6M in angel funding
Bangalore-based InterpretOmics India Pvt Ltd, a Big Data startup focused on bioinformatics, has raised Rs 10 crore ($1.6 million) in angel funding from Amarante, a Singapore-based shipping company, and two unnamed Indian investors. The funds will be used for product development, research and marketing.
The company was founded in 2009 by Prahalad H. Achutharao (CEO) and Asoke Talukder (chief scientific officer). Achutharao had earlier worked at Infosys, Verari Systems and other companies. He holds an MS degree in Computer Science from the University of Alabama at Birmingham (US) and a BE degree in Electrical Engineering from Karnataka University. Prior to InterpretOmics, Talukder also worked with several companies such as Sobha Renaissance, Tyfone Communications Development India, Cellnext Solutions, Bluestar Infotech and Mindware.
The startup's flagship is iOMICS, a cloud-based software platform for aggregating and structuring genomics and biomedical data. Based on semantic technology, the platform makes it easy to manage, process and analyse genomics data â€“ combining them from different sources such as DNA sequencers and other critical clinical databases. It also offers GoHealthyGo, a predictive, preventive, personalised and pervasive healthcare platform that integrates cutting-edge genetic, medical and behavioural knowledge for individuals, physicians, enterprises and institutions that are committed to deliver preventive healthcare.
According to Achutharao, the market for next generation genomics is around $1.6 trillion, but the fact that the company's offerings are on the cloud, its market opportunity is significantly higher.
Its clientele includes over 17 customers including US-based Joint Genome Institute, Indian Council of Agricultural Research, All India Institute of Medical Sciences (AIIMS) and Biocon, among others. The company is now looking to generate over Rs 350 crore in revenues by fiscal year 2015. Its global competition includes companies like DNAnexus.
(Edited by Sanghamitra Mandal)