TLDR: US-based AI firm Unlearn.AI has secured $50 million in Series C funding in a round led by Altimeter Capital, with participation from existing investors Radical Ventures, Wittington Ventures, Mubadala Capital, Epic Ventures, and Necessary Venture Capital. The funding will be used to further Unlearn’s mission of revolutionizing medicine through AI, focusing on eliminating trial and error in clinical studies. Unlearn specializes in developing innovative AI solutions for clinical trials, addressing challenges such as lengthy timelines, slow enrollment, and participant hesitancy towards placebos. With this funding round, the company plans to expand its team and capabilities in order to enhance awareness and value proposition.
US-based AI firm Unlearn.AI has raised $50 million in a Series C funding round led by Altimeter Capital. The funding will be used to support Unlearn’s mission of revolutionizing medicine through AI, focusing on eliminating trial and error in clinical studies. Specific areas of focus for the funding include personnel enhancement, data capabilities, engineering, and long-term research and development initiatives. Unlearn is known for its innovative AI solutions for clinical trials, tackling challenges such as lengthy timelines, slow participant enrollment, and participant hesitancy towards placebos. With the latest funding, the company aims to further expand and diversify its capabilities in order to increase awareness and value within the industry.
In the round, Altimeter Capital led Unlearn’s funding with participation from previous investors Radical Ventures, Wittington Ventures, Mubadala Capital, Epic Ventures, and Necessary Venture Capital. Unlearn’s technology involves creating digital replicas of clinical trial participants, which enables more efficient studies. The company has raised over $130 million in funding since its establishment in 2017 and aims to tackle significant hurdles in clinical research. These hurdles include protracted timelines, sluggish participant enrollment, and participant hesitancy regarding potential placebo administration.
Charles Fisher, Unlearn’s founder and CEO, emphasizes the importance of transformative technologies in clinical research and the need to break barriers. He states that despite the billions of dollars invested annually in clinical research by pharmaceutical companies, there is a cautious approach towards adopting transformative technologies. The new funding will support team expansion and the company’s diversification into additional therapeutic domains to enhance its value proposition.
Unlearn has collaborated with regulatory experts, ensuring adherence to prevailing guidelines from the European Medicines Agency and FDA. The company aims to streamline and enhance clinical research efficiency, reducing participant numbers and costs while improving outcomes for pharmaceutical partners. The funding from Altimeter Capital and existing investors underscores Unlearn’s role in transforming clinical trial dynamics and optimizing drug development processes.
