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LabDAO raises USD 3.6 million in funding
Web3 Ecosystem
May 23, 2023
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Web3 Ecosystem

Web3 Ecosystem

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May 23, 2023

LabDAO raises USD 3.6 million in funding

Funding

  • LabDAO, an open-source drug discovery company, has raised USD 3.6 million in a funding round co-led by Inflection.xyz and Village Global, with participation from North Island Ventures, Seed Club Ventures, ID Theory, Road Capital, and Curve Labs, among others.

  • Along with the raise, the company launched PLEX, a library built upon Bacalhau (a decentralized computational platform), which allows scientists and researchers to run BioML models for a wide range of applications. The output from the platform can be linked to NFTs to prove ownership of the research. Furthermore, it aims to launch physical laboratory services in the future.

  • Formed in 2022, LabDAO is an open-research organization built for computational life sciences. It operates as a decentralized autonomous organization and currently has over 1,000 scientists using its platform.

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