In the recent past, a majority of startups utilize the power of technology to provide different solutions to the public. In point of fact, the technology adoption in the healthcare sector across the globe is poised for extraordinary growth as it uses game-changing technology in helping patients gain access to better treatments.
Castor EDC secures €5.3M in funding!
One of the noteworthy startups that’s making a mark in the healthcare sector is Castor EDC, a company based out of the Netherlands. Having said that, today, the company has announced that it raised $6.25 million (€5.3M) in a Series A round led by INKEF Capital, an Amsterdam based technology, and healthcare venture capital firm, with several angel investors. With this funding, the company is planning to expand its base in the U.S and to enhance their research platform.
Founded in 2012, Castor is an electronic data capture system for medical research, that enables researchers to set up data capture forms, collaborate with colleagues, invite patients through questionnaires, import, export and analyze their data in a secure, compliant cloud environment, all without elaborate training or technical skills.
Derk Arts, Castor’s founder, and CEO states, “At Castor, we have built a cutting-edge, user-friendly Electronic Data Capture [EDC] platform that we are putting in the hands of every medical researcher worldwide. With the help of our system, we allow researchers to streamline the clinical trial process and use their data to its full potential.”
In turn, by helping standardize their data using machine learning, researchers will be able to create the most extensive, most diverse, distributed medical research dataset the world has ever seen.
Derk Arts, Founder and CEO, Castor EDC, says, “We will focus on developing our technology to have the biggest impact on medical research: fully mobile workflows, increasing the number of integrations with Electronic Medical Records (EMRs) and putting the patient in the driver’s seat by further integrating our patient-facing dynamic consent module, called MyConsent. It will be instrumental in fixing one of the largest problems in medical research: patient recruitment.”
Castor currently employs a team of 30 people, headquartered in Amsterdam. This platform hosts well over 3,000 studies and has more than 18,000 users, who hail from over 100 renowned institutes like the Academic Medical Center (Amsterdam), Radboudumc (Nijmegen), UKE (Hamburg), and King’s College Hospital (London).
Corné Jansen (director INKEF Capital) says: “When we met the Castor team we were immediately excited by the depth of their vision and impressed with how far they brought the company without external investments. With Castor sitting at the intersection of our Technology & Healthcare investment areas, we can leverage our understanding of the healthcare industry with our SaaS experience.”
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