Toronto’s Deep Genomics today announced the closing of a $3.7 million seed financing round led by True Ventures of the Bay Area with participation from Bloomberg Beta and other global angel investors.
Deep Genomics is startup that has developed a unique deep learning-based technology that can sift through hundreds of millions of previously unknown genetic mutations and find ones that lead to disease.
The company will use the funding to grow its team of machine learning and genome biology experts and to further develop and validate its proprietary deep learning technology.
With this newly acquired talent, Deep Genomics can continue to advance its ability to determine the consequences of genomic alterations on various cell mechanisms and can get closer to applying this technology to diagnostics, personalized medicine and pharmaceuticals.
“Deep Genomics is a prime example of how machine learning will impact the healthcare space,” said Adam D’Augelli of True Ventures. “Deep Genomics’ solutions will provide an understanding of genetic mutations that science has never had before, opening the door for hyper-personalized treatments and major developments in pharmaceuticals.”