Silicon Valley-based Medeloop has closed $15.5 million USD ($21 million CAD) in Series A financing to support its platform aimed at speeding up clinical research with artificial intelligence (AI).
The all-equity round, which closed in late October, was led by Canadian venture firm Inovia Capital, with participation from Icon Ventures, General Catalyst, Maven Ventures, Healthier Capital, Up2 Opportunity Fund, and CFO Advisors. To date, Medeloop has raised a total of $25.5 million USD ($35.8 million CAD).
“Rene’s dual expertise as a surgeon and tech entrepreneur uniquely positions him to understand the complexities of this field.”
Magaly Charbonneau, Inovia Capital
“We’re excited to partner with Medeloop as they tackle one of the most pressing challenges in clinical research,” Inovia partner Magaly Charbonneau told BetaKit. “Rene’s dual expertise as a surgeon and tech entrepreneur uniquely positions him to understand the complexities of this field.”
Founded in 2021, Medeloop has developed a platform aimed at accelerating clinical research by deploying autonomous, AI agents that the company claims can handle tasks such as ingesting data, running analytics, producing manuscripts, and finding and writing grants.
“I founded Medeloop driven by the personal mission of finding a cure for my daughter’s Complex Regional Pain Syndrome—a condition still eluding effective treatment,” Medeloop founder and CEO Rene Caissie said in a statement. “This experience revealed the inefficiencies in current medical research and the critical need for innovative solutions.”
Caissie has strong roots in the Canadian tech and healthcare sectors. Originally from Saint-Louis de Kent, New Brunswick, he is a former surgeon, researcher, and exited tech founder.
In 2011, he founded and led Montréal-based Medesync, which offered a web-based electronic medical records system that connected practitioners to hospitals, labs, pharmacies, and patients. He led Medesync’s operations and strategic direction to its eventual sale to Telus for an undisclosed sum.
RELATED: MedEssist offers pharmacists medication delivery through new partnership with Uber Direct
According to his LinkedIn page, Caissie also led a group of surgery specialty centres while based in Montréal. Today, he is based in Stanford, Calif. and currently serves as an adjunct professor at the Stanford University School of Medicine.
Caissie’s résumé also includes work with Montréal-based Dorma Filtration, which manufactures personal protective equipment including N99 masks. Caissie specifically helped develop the N-99 Dorma mask, which was used in several Canadian provinces during the COVID-19 pandemic.
Medeloop’s founding team includes Caissie, CTO Raghav Samavedam, and chief scientific officer Josh Walonoski. Walonoski is also Canadian, and according to his LinkedIn page, is based in Montréal.
The startup has several partnerships in place with universities and other tech companies, including McGill University and Fitbit. Earlier this year, the startup partnered with Montréal AI institute Mila to give researchers tools to analyze health data and expedite the clinical research process.
Medeloop plans to use the new capital to increase the speed and accuracy of its platform.
Feature image courtesy Medeloop.
The post Canadian-led Medeloop closes $15.5 million USD in Inovia-led Series A round first appeared on BetaKit.