It’s no new news that Artificial Intelligence or AI is being used to further many advancements in various fields. One such area where AI is making waves is personal health and drug discovery. There are many companies that made headlines for employing AI to discover a breakthrough in medical sciences and you can now add another one to the list. The London-based AI startup Causaly has secured €4.3 million in Series A funding.
The new funding round for the startup was lead by Pentech Ventures and EBRD Venture Capital. Existing investors such as Marathon Venture Capital and angel investors also participated in the funding round.
Reading through data at breakneck speeds
As per Causaly, over over 30 million biomedical articles have been published till now and about 100,000 new articles are being added every month. These published texts hold numerous insights. For example, correct drug development and treatment choices. However, making sense of it all and connecting the dots is time-consuming and inefficient for a human and therefore some key discoveries can be missed.
Causaly’s natural language processing AI reads and understands biomedical literature in a manner similar to humans. However, Causaly’s AI has read ‘everything’ ever written in biomedicine and is touted to visualise relevant relationships in seconds. Additionally, evidence-based decisions can quickly be supported by the system where previously time-consuming literature reviews took weeks or even months to perform.
Causaly’s use cases
Causaly is apparently working with several pharma and biotech companies, including Novartis, as well as with hospitals and academia. The company’s unique AI platform is currently employed by R&D and commercial functions to enable overall better decision-making based on evidence in areas such as Drug Discovery, Drug Safety, Clinical Trials, Epidemiology, Health Economics, Market Access, Pharmacovigilance and IP departments. To realise this, the startup has teamed up with leading publishers and content brokers such as Copyright Clearance Center, Wiley and Sage.
“At Causaly our aim is to help researchers, doctors and decision-makers from industry and academia find the pivotal insights that are currently hidden in millions of biomedical documents. We believe that Causaly can transform how people find, visualise and interpret knowledge, and contribute to solving the most difficult and systemic problems in biomedicine and human health”, says Yiannis Kiachopoulos, Causaly’s co-founder & CEO.
Artur Saudabayev, co-founder & CTO of the company adds, “We have assembled a stellar team of engineers which tackles a number of unsolved problems in Natural Language Understanding including the goal of reaching and in certain aspects surpassing human reading performance for linguistic causality comprehension. This investment will help us to substantially grow our technology development and customer success teams.”
Main image picture credits: Casualy
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