German VC firm invests in Data as a Service startup Innoplexus

Innoplexus, a Germany- and India-based Data as a Service (DaaS) startup, has closed an undisclosed sum in pre-Series A funding from HCS, a Germany-based Venture VC firm.

With the capital, the startup plans to file more patent applications, further develop its trademark platform iPlexus, and invest in marketing.

Started in 2011, Innoplexus helps life sciences companies generate actionable insights across pre-clinical, clinical, regulatory and commercial stages of a drug. Its DaaS engine with real-time data and insights, along with an ecosystem of Continuous Analytics as a Service (CAaaS) applications, helps enterprises make better data-driven decisions.

Headquartered in Germany, with over 100 employees working from Pune, Innoplexus services large global pharma and life sciences companies. It helps companies move to continuous decision making by generating insights from structured and unstructured private and public data.

The company’s iPlexus platform helps life science firms to generate intelligence and insights across pre-clinical, clinical, regulatory and commercial stages of a drug across therapeutic areas and indications. It also helps researchers get quick, crisp and summarised snapshots of the current landscape in any given context through an intuitive semantic search, helping them make informed and data-backed decisions.

Dr. Gunjan Bhardwaj, Co-founder and CEO of Innoplexus, said, “We envision to fundamentally transform the DaaS landscape for life sciences by leveraging machine learning and artificial intelligence to generate insights from the public as well as enterprise data.”

Gaurav Tripathi, Co-founder and India CEO, said, “We are working in cutting-edge technology areas of Information Retrieval, Network Analysis, Computer Vision and Ontologies and are one of the rare startups with a strong focus on creating proprietary Intellectual Property.”