Total amount raised
$304.1 Million
Latest funding date
6/1/2022
Location
Owkin has participated in 8 funding rounds, with the latest being a Series B round. The company is backed by 16 investors, including notable names like Bristol-Myers Squibb and Sanofi.
Owkin's innovative approach to AI in precision medicine has garnered significant interest from the investment community. Keep reading to explore the intricacies of Owkin's fundraising journey and the investors backing this pioneering platform.
What Is Owkin?
Owkin is an AI precision medicine company based in New York, New York, United States. The company leverages artificial intelligence and machine learning to advance biotechnology, clinical trials, and pharmaceutical research. Founded with a vision to find the right drug for every patient, Owkin has grown to employ between 251-500 people.
Owkin's offerings include decision-making tools for biopharma, digital pathology AI diagnostics, and a robust AI infrastructure. The company collaborates with top academic research institutions to access rich patient data, aiming to accelerate drug discovery, development, and diagnostics. With a global presence, Owkin continues to push the boundaries of AI in life sciences.
How Much Funding Has Owkin Raised?
- Series B
- Amount Raised: USD 50,000,000
- Date: June 2022
- Lead Investors: Bristol-Myers Squibb
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance drug trials and bring drugs to market faster through efficient clinical trials.
- Series B
- Amount Raised: USD 180,000,000
- Date: November 2021
- Lead Investors: Sanofi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand data network and develop intellectual property pipeline of treatments.
- Series A
- Amount Raised: USD 18,000,000
- Date: July 2020
- Lead Investors: Bpifrance, Mubadala Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Accelerate drug discovery and development.
- Series A
- Amount Raised: USD 25,000,000
- Date: May 2020
- Lead Investors: Bpifrance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance AI infrastructure and diagnostics capabilities.
- Series A
- Amount Raised: USD 13,000,000
- Date: March 2019
- Lead Investors: Eight Roads Ventures, F-Prime
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand research collaborations and data access.
- Series A
- Amount Raised: USD 5,000,000
- Date: May 2018
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Develop AI decision-making tools for biopharma.
- Series A
- Amount Raised: USD 11,000,000
- Date: January 2018
- Lead Investors: Otium Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strengthen AI diagnostics and infrastructure.
- Seed
- Amount Raised: USD 2,100,000
- Date: October 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development of AI precision medicine platform.
Total Amount Raised: USD 304,100,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bristol-Myers Squibb
- Details: Bristol-Myers Squibb is a global biopharmaceutical company headquartered in New York City, USA. It focuses on discovering, developing, and delivering innovative medicines that help patients prevail over serious diseases.
- Investment Focus Areas: Oncology, cardiovascular, immunoscience, fibrosis
- Notable Investments: Owkin, Celgene, MyoKardia
- Sanofi
- Details: Sanofi is a multinational pharmaceutical company based in Paris, France. It is dedicated to improving the lives of people through its extensive portfolio of medicines, vaccines, and consumer healthcare products.
- Investment Focus Areas: Pharmaceuticals, vaccines, consumer healthcare
- Notable Investments: Owkin, Translate Bio, Principia Biopharma
- Bpifrance
- Details: Bpifrance is a French public investment bank that supports businesses from seed to IPO. It provides financing, guarantees, and equity investments to foster innovation and growth.
- Investment Focus Areas: Technology, healthcare, energy
- Notable Investments: Owkin, Doctolib, Deezer
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. It invests in startups across various sectors, providing funding and support to help them grow.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: Owkin, Uber, Slack
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that partners with entrepreneurs to build bold and transformative companies. It has a strong presence in Europe, Asia, and the US.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Owkin, Alibaba, Neo4j
What's Next for Owkin?
Owkin's future is brimming with opportunities, particularly in expanding its data network and developing its own intellectual property pipeline of treatments. The partnership with Bristol Myers Squibb, which includes potential milestone payments, positions Owkin to significantly enhance drug trials and discovery processes. This collaboration, along with the growing use of AI in drug discovery, sets the stage for substantial growth in the biotech sector.
Future fundraising opportunities are likely to arise as Owkin continues to meet milestones and expand its workforce. The company’s focus on making clinical trials more efficient and precise will attract further investments from pharmaceutical giants. However, Owkin will need to navigate challenges such as competition in the AI-driven drug discovery market and meeting regulatory requirements for new drug approvals.
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