Immunai, an Israeli biotech startup, has just hit the coveted unicorn status with a billion dollar plus valuation. Immunai hit that mark when it brought in $215M in a Series B round of funding led by Koch Disruptive Technologies. The company’s total funding to date has now reached $295 million.
A unicorn is any startup that is valued at $1 billion or more. And this is the third Israeli startup to come out as a new unicorn in the last few days. Earlier this week, Fabric, an Israeli retail logistics platform, raised $200 million in a Series C fundraising round, valuing the company at more than $1 billion. The round, which was led by Temasek, brought the total amount raised by Fabric to $336 million.
And Augury, an Israeli startup that works in the field of internet of things IOT and AI-driven Machine health solutions, hit unicorn status after raising $180 million in new funding. That raise brought Augury’s post-funding valuation to over $1 billion. Augury has now raised a total of $286 million to date.
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Those two companies help other companies both save money and earn more money with their services. So, what is it about a biotech company like Immunai that makes it worth so much?
Founded in December 2018 by CEO Noam Solomon, and CTO Luis Voloch, Immunai uses single-cell genomics and machine learning to discover and develop novel therapeutics that reprogram the immune system. Its 120 employees, 70 of whom are PhDs or MDs, is composed of experts in genomics, machine learning, bioinformatics, immunology, and software engineering. The company has more than 30 partnerships with Fortune 100 pharmaceutical companies and leading academic institutions, including Harvard, Stanford, Memorial Sloan Kettering, and Baylor College of Medicine.
The company has more than 25 academic partnerships to build its proprietary AMICA system, the Annotated Multiomic Immune Cell Atlas. This, Immunai explains, is the world’s largest data atlas of clinically-annotated single-cell immune data. The company boasts that this atlas, combined with Immunai’s team of immunologists and computational biologists, provides “unique insights into underlying biology that drives disease etiology, allowing the company and its partners to discover novel targets as well as analyze and develop existing pipeline compounds.”
So, that already sounds like something that has already proven to be a success and so is worthy of all of that funding. And the company has already tripled in size in the past year alone.
— Immunai (@Immunaitech) October 23, 2020
“We have made great progress towards our core mission of understanding the immune system, which we believe is essential to finding the answers to human health and disease,” said Noam Solomon, PhD, CEO and co-founder of Immunai. “Unlocking the immune system will accelerate the evaluation and development of novel immune medicines. Our approach is to combine best-in-class single-cell genomic methods and artificial intelligence with a deep understanding of immunology.”