Research Grid Secures £5M to Revolutionize Clinical Trials
Deal News | Nov 10, 2024 | Business Cloud

Research Grid, an AI startup specializing in automating back-office administration for clinical trials, has successfully raised a £5 million seed round. The funding, led by Fuel Ventures with several other notable investors, aims to address clinical trial inefficiencies caused by outdated systems and manual processes, often resulting in costly delays and reduced patient engagement. By developing products such as Inclusive and TrialEngine, Research Grid offers an integrated solution that automates the patient recruitment process and manages trial administration efficiently. The funds will be utilized to enhance research and development, especially in AI automations, while also scaling the engineering teams and expanding the startup’s presence in the US and Asian markets. Founded by Dr. Amber Hill, an expert in AI and biomedical neuroscience, the company envisions an automation engine for clinical trials, making them faster and more successful. The startup's innovative approach promises to alleviate common bottlenecks in the drug development pipeline.
Sectors
- MedTech
- AI Technology
- Venture Capital
Geography
- United Kingdom – Research Grid is a UK-based company and the seed funding was raised in the UK.
- United States – Research Grid plans to expand its presence in the US market as part of its growth strategy.
- Asia – The company's growth strategy includes expanding its presence in Asian markets.
Industry
- MedTech – The article involves an AI startup that is focused on solving inefficiencies in clinical trials, thereby contributing to the medical technology sector.
- AI Technology – Research Grid uses artificial intelligence to automate processes within clinical trials, enhancing efficiency and effectiveness.
- Venture Capital – The funding round for Research Grid was led by several venture capital firms, highlighting the role of VC in financing innovation in technology and healthcare.
Financials
- £5 million – Seed round funding raised by Research Grid to develop its AI solutions for clinical trials.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Research Grid | Target company | Company | An AI startup focused on automating back-office administration for clinical trials. |
| Fuel Ventures | Lead investor | Company | A venture capital firm leading the seed funding round for Research Grid. |
| Arve Capital | Investor | Company | A venture capital firm participating in the funding round. |
| Ada Ventures | Investor | Company | A venture capital firm participating in the funding round. |
| Morgan Stanley Inclusive Ventures Lab | Investor | Company | An investment firm focused on promoting inclusive growth by supporting startups. |
| Arya Ventures | Investor | Company | A venture capital firm participating in the funding round. |
| Ascension Ventures | Investor | Company | A venture capital firm participating in the funding round. |
| Plug and Play Ventures | Investor | Company | A venture capital firm participating in the funding round. |
| Atomico Angels | Investor | Company | Angel investors network affiliated with Atomico, participating in the funding round. |
| Dr. Amber Hill | Founder and CEO | Person | Founder of Research Grid with a background in AI and biomedical neuroscience. |