Semalytix picks up €2 million from NRW Bank in a series A capital extension

Semalytix, a Bielefeld, Germany-based developer of an intelligence platform used for systematic research into patient needs, announced that it secured a €2 million ($2.4M) capital funding round.

The money was secured from the German bank NRW.Bank and represents an extension to the series A round announced in 2020.

Semalytix, led by CEO Janik Jaskolski, was founded in 2015 as a spin-out of research group Semantic Computing aiming to develop an analytics platform gathering insights used for the development of new drugs and treatments.

The platform, named Pharos, uses intelligent software that can read and understand texts, collects voices from patient forums, social media and other online sources on everyday experiences with medication and structures the data obtained in this way in order to make it usable for the pharmaceutical industry. The software speaks eight different languages ​​and can even show in real time how much an illness affects the lives of those affected and how the experience changes over time. The results serve as the basis for the further development of drugs and treatment methods.
Semalytix customers include many of the top 20 pharmaceutical companies worldwide, including the global pharmaceutical company Boehringer Ingelheim.