Unlearn, an AI-enabled company creating digital twins of clinical trial participants, announced it scored $50 million in Series C funding, bringing its total raise to more than $130 million.
Altimeter Capital led the round, with participation from existing investors Wittington Ventures, Epic Ventures, Radical Ventures, Mubadala Capital and Necessary Venture Capital. Insight Partners, DCVC, 8VC and DCVC Bio also participated in the round.
WHAT IT DOES
Unlearn uses machine learning to create digital twins of clinical trial participants before being randomized in a controlled trial. The digital twin can provide researchers insight into the participants’ health outcomes. The startup pitches its technology as a way to run smaller clinical trials more quickly, since researchers can find fewer participants for the control group.
The company, founded in 2017, will use the funds to invest in its engineering capabilities, research and development initiatives, data and workforce.
“Pharmaceutical companies are spending over $100 billion dollars a year on clinical research, yet the industry remains skeptical about new technology that has the power to truly transform research,” said Charles Fisher, founder and CEO of Unlearn.
“Breaking down these barriers and proving the value of digital twin technology continues to be a main driver for us at Unlearn. And, this round of financing will allow us to not only grow our team but also expand our capabilities into more therapeutic areas to build awareness and prove the value.”
MARKET SNAPSHOT
Unlearn secured $50 million in a Series B financing round in 2022, two years after securing $15 million in Series A funding.
Last year, the company announced a partnership with clinical-stage biotechnology company QurAlis Corporation to accelerate QurAlis’ ALS-focused clinical program using Unlearn’s genAI technology.
Other companies using digital twin technology include Singaporean startup Mesh Bio, which employs digital twins to help manage rising cases of chronic diseases, particularly in Southeast Asia.
Digital metabolic care startup Twin Health offers its Whole Body Digital Twin, an AI-backed model that aims to provide individualized nutrition, sleep and activity guidelines to help people prevent and reverse metabolic diseases like Type 2 diabetes.
“Nurses Shaping an Innovative Healthcare Future with AI” is scheduled for Monday, March 11, 9:30-10 a.m. ET in Room W311A, and “AI’s Role in Modern Healthcare: The Wins, the Woes, and What’s Next” is scheduled for Monday, March 11, 2-2:45 p.m. ET in Hall F (WF3) at HIMSS24 in Orlando. Learn more and register.