Elucidata, a biomedical molecular data company, announced today that it has closed a $5 million pre-Series A funding round led by IvyCap Ventures. The financing round also included participation from Hyperplane Venture Capital and several angel investors.

Elucidata has a mandate to accelerate drug discovery by applying its AI-enabled platform, Polly, on vast heterogeneous semi-structured biomedical data. With the FAIR data principles as a guideline for data management, Elucidata's proprietary technology transforms public and proprietary molecular data into a ready-to-use form as data lakes. R&D teams can build, publish, and host workflows to analyze data and make better data-driven decisions to discover therapeutic assets with high odds of success in the clinic. Elucidata has offices in Cambridge (MA), San Francisco, New Delhi and Bangalore.