Biotechnology company Eagle Genomics has raised $20 million in its scale-up funding round.
The company plans to use the capital to support the development and expansion of its artificial intelligence-powered platform, Edatascientist. The funding round will be open to raise up to another $10 million, according to a Nov. 2 Eagle Genomics news release.
Abrdn Plc led the funding round.
"We believe that Eagle Genomics is poised to support increasing numbers of large enterprise customers with digitizing research and development and product innovation activities," Alistair Watson, head of strategy innovation at Abrdn, said. "This investment will support Eagle Genomics' scale-up while driving further penetration into global markets. It is also pivotal for the wider Bioeconomy, as the importance of microbiome science increases and its applications become more widespread."