Research Grid raises $6.5m in seed funding to speed up clinical trial admin

Research Grid, a London-based AI startup whose software automates back office admin for clinical trials, has raised a $6.5M seed round. The round was led by Fuel Ventures, with participation from Arve Capital, Ada Ventures, Morgan Stanley Inclusive Venture Lab, Arāya Ventures, Ascension Ventures, Plug and Play Ventures, and Atomico Angels.

Legacy software systems are often used to manage clinical trials, causing expensive delays. Research Grid has developed two products, Inclusive and TrialEngine, which together allow its customers to manage the full life cycle of clinical trials in one place. Both products are powered by Research Grid’s patented AI algorithms which automate many of the administrative and data management workflows. 

The company will use the funding to invest in R&D, developing more AI automations and building out its engineering teams. It also plans to grow its marketing and sales functions as it expands its presence in US and Asian markets. 

Dr Amber HIll, founder and CEO of Research Grid, said: “I spent 14 years as a medical researcher and I would spend hundreds of hours copying data from one system to another. The back office process is completely broken. When you multiply this across the industry the costs for patients and research institutions are astronomical.   

“That’s why we’re building the automation engine for admin-free clinical trials. Whether you’re a pharmaceutical company, a CRO, or a clinical research site, we can help you run faster, more successful clinical trials. We’ve already seen how AI is accelerating drug discovery and it’s time to do the same in clinical trials.

“We’re delighted to have the support of Fuel Ventures and other investors. Now we can focus on expanding our engineering teams and scaling up our R&D efforts, allowing us to deliver more of the features our customers are asking for. We’ll also be growing our sales and marketing team so that we can take advantage of opportunities in the US and Asia.”

Shiv Patel, Partner at Fuel Ventures, said:

“Every investor wants to find unicorns, and with the clinical trial market expected to reach over $95 billion in the next five years, we believe in the mission, proposition and trajectory of Research Grid.”