Castor raised $12m in funding from Two Sigma Ventures with participation from Hambrecht Ducera Growth Ventures and INKEF Capital.

Castor, an Amsterdam, The Netherlands and Hoboken, N.J., USA-based health-tech developer of clinical trial technology that automates the research process, announced completing a $12 million funding round.

The round was led by Two Sigma Ventures with participation from Hambrecht Ducera Growth Ventures and existing investor INKEF Capital.

The moeny will be used for platform developmen and business expansion.

Castor, founded in 2011 by CEO Derk Arts, developed a cloud-based medical research data platform intended to facilitate electronic data capture for medical research. The platform simplifies the clinical trial process, from recruitment to analysis, for researchers globally and is used by more than 50,000 users across academia and commercial research, powering more than 4,000 studies with more than 2,000,000 enrolled patients across 90 countries. 192 medical device, biotech, and pharmaceutical companies and contract research organizations (CROs) are using the platform.

Prior to this round, in 2018, Castor raised $6.25M from INKEF Capital.