Software company that specialises in applications for life sciences research, Discngine, has raised €1.1 million in a Series A financing round, allowing the company to move forward with its Software-as-a-Service (SaaS) solution.
Software
“Thanks to this investment, our team will be able to industrialise our high value-added projects and commercialise them via a SaaS (Software-as-a-Service) offer available to researchers all over the world,” said Eric Le Roux, founder and CEO of Discngine. “Discngine now has the means to accelerate its international development.”
The SaaS approach offers services to clients based on a subscription model. It is well established in several industries, with strong growth potential. In the life sciences sector, however, the model is not yet widespread.
These new funds will be used by the company to speed up the development and commercialisation of its SaaS solution offering, extend its international reach and hire ten new staff members by the end of 2018. Furthermore, the company has stated that it will set up a supervisory board, comprising of representatives from Extens and Discngine as well as two experts from the life sciences research sector: Gordon Waldron, from Sequoia Business Solutions and Simon Valentine, from Illumina.
“We are excited to invest in Discngine. The company has developed a state-of-the-art technology platform that increases the efficiency of drug discovery, helping to find ‘bankable’ molecules,” added Arnaud Houette, managing director of Extens. “The challenge is not only financial, but above all medical. This is a good example of our strategy: identifying French e-health start-ups that develop promising technologies, helping them accelerate their development — contributing to an improvement in our health system.”
Discngine is already collaborating with Dassault Systèmes BIOVIA on the distribution of its first two SaaS solutions. It is also planning to launch new solutions dedicated to life sciences research in 2018.