Readout AI, a Los Angeles, CA-based company that provides AI tools for analyzing preclinical and clinical trial data, automatically, announced that it raised pre-seed funding.
The round was led by Meridian Street Capital, with participation from Mucker Capital, Necessary Ventures, and angel investor Ryan Fukushima, who serves as the COO of Tempus and CEO of Pathos.
This funding will be used to accelerate its product development, enhance the sophistication of its AI algorithms, and expand its team.
"We are beyond excited to have secured this funding from such impactful and supportive investors," said Matthew Michelson, PhD, CEO of Readout AI."This investment validates our vision and the potential impact our technology can have in clinical trials."
Readout AI's platform automatically analyzes data with the appropriate statistics and then describes the results in formats ranging from table descriptions to abstracts to posters. The goal is to alleviate the bottlenecks associated with clinical data analysis and reporting by turning trial data into accessible, human-readable insights, in seconds.
Company: Readout AI, Inc.
Round: Pre-Seed Round
Funding Month: July 2023
Lead Investors: Meridian Street Capital
Additional Investors: Mucker Capital, Necessary Ventures, and Ryan Fukushima
Company Website: https://readout.ai/
Software Category: Clinical Trial Analysis
About the Company: Founded in 2023, Readout AI is a software development company that provides an AI-based tool designed for automatically analyzing preclinical and clinical trial data. Its AI-based tools help unlock insights in preclinical and clinical data, bringing therapies to market faster. Founded by experts in both AI and pharmaceutical services, the team believes that AI will turbocharge the biostatistical and medical writing tasks associated with clinical trials.