Life Science Company News
Invenshure Announces Flywheel acquires Radiologics as part of a $22M Series C Financing
MINNEAPOLIS, Sept. 15, 2021 /PRNewswire/ -- Invenshure announces today that Flywheel has acquired Radiologics. Together, the two companies, now operating as Flywheel, offer the only biomedical research platform capable of connecting any organization or data set across life sciences, academia, clinical, and medical AI. Founded by Invenshure in partnership with Dr. Brian Wandell and Gunnar Schaefer out of Stanford, Flywheel is a Minneapolis-based company providing a data management platform for biomedical research.
With the strategic addition of Radiologics, Flywheel will expand its network for research collaboration, accelerate its roadmap of new features and tools, provide cross-platform data and algorithm interoperability, and offer cloud-scalable and on-premise computational workflows for research and clinical application.
The Series C funding round is being led by 8VC, which is focused on building technology platforms that create long-term economic and societal value. Other investors include iSelect, Argonautic Ventures, Beringea, DrX/Novartis, HPE Pathfinder, Spike Ventures, Key Investments, Seraph, Great North Labs and others.
"We were impressed by the progress the Flywheel team has made in enabling digital transformation of life science data management. Their thoughtful infrastructure decisions have allowed them to expand into applications in AI development, data exchange, and federated learning. We are excited to lead the Series C funding to acquire Radiologics and further grow Flywheel's infrastructure, as well as develop these application areas," said Francisco Gimenez, Partner at 8VC.
"It has been quite a summer for Invenshure," said Danny Cunagin, Co-CEO of Invensure. "First the acquisition of GeneMatters by Genome Medical and now the Series C funding of Flywheel and the acquisition of Radiologics. We are delighted to demonstrate the power of Invenshure's business model to our partners and investors."
Invenshure is a venture catalyst company focused on the creation and development of healthcare and biotechnology companies - built around novel IP from leading scientists and institutions. To learn more about Invenshure and our companies, visit www.Invenshure.com
Flywheel is the revolutionary research data management platform powering healthcare innovation by accelerating collaboration, enabling machine learning, and streamlining the massive task of data aggregation, curation and management. By leveraging cloud scalability and automating research workflows, Flywheel helps organizations scale research data and analysis, improve scientific collaboration and accelerate discoveries. Flywheel offers comprehensive solutions for life sciences, pharmaceutical, biotech, academic, and clinical research. Flywheel is headquartered in Minneapolis and has offices in the Bay Area, St. Louis, and Budapest. For more information, visit www.flywheel.io or follow us on LinkedIn and Twitter.
SOURCE Invenshure, LLC