Startup Funding Club (SFC) has recently closed a seed investment round into Artificial Intelligence startup Intoolab. The company has developed a platform where researchers, R&D employees, professors, and students work in research projects by using Tzager, one of the first artificial scientists that is trained to understand the field of Biomedicine.
AI agent/scientist Tzager is under development in collaboration with research teams from some of the biggest universities and research centres globally. Its creators aim to shape the first steps towards a true AI agent that can connect the knowledge of the field of Biomedicine to real life needs for Pharmaceuticals, Research Centres, and the critical sector of Medicine as a whole.
The team has been working on this technology since 2016, and has been shortlisted in top lists of startup events and competitions as WebSummit, Startup Bootcamp (Top 20), Startup Grind (Top 50) and Webit (Top 100). Furthermore, Intoolab’s CEO, Nikos Tzagkarakis has been working closely and been invited as a speaker in university events at Imperial College, CASS Business School, Liverpool University (London), and Aegean College just to name a few.
With the funding received from its seed round – which includes investments from both SFC’s early stage funds and the SFC Angel Network –, Intoolab will support the development of AI scientist Tzager. The company also aims to use the funds to establish its presence in the UK and European Biomedicine sector, focusing on the needs of pharmaceutical companies and research centres.
Nikos Tzagkarakis, CEO at Intoolab said: “We are thrilled to be part of such an important portfolio and to work closely with such a great team like SFC. Since the first time we met, Stephen Page showed us that we understand each other and share the same ambition towards global reach and technological excellence. Our main goal is to show the Medicine world that Intoolab and Tzager will soon be the closest they can get to true AI – especially when talking about drug discovery. You cannot have better scientists than those that can process millions of data in minutes, while at the same time understanding the whole process from a research objective to its completion. This is what we do.”
Stephen Page, CEO at SFC said: “It was obvious when we first met the Intoolab team that they had something very special. Their Tzager product will bring the world's medical knowledge into the grasp of students and researchers everywhere. The "wikipedia" of medical knowledge – and we are delighted to be part of Intoolab’s journey.”