September 25, 2024
Andreessen Horowitz has made its first investment in a decentralized science (DeSci) project called AminoChain. The firm led a $5 million seed funding round announced on Wednesday. AminoChain aims to enhance medical data collection by incorporating blockchain technology to ensure ownership, transparency, and consent. The project is developing a decentralized biobank and a Layer 2 network to facilitate data sharing among medical institutions while maintaining patient privacy.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
AnimoChain | $5M | September 25, 2024 | Seed Round | $7M | a16z | DeSci, L2 |
Medical institutions can use AminoChain’s “Amino Node” software, which integrates with their existing systems. This software keeps data on the institutions’ servers but standardizes it into a common format, making it compatible with a network of collaborators. This setup allows developers to access data from various medical sources and create patient-focused applications.
AminoChain had previously secured $2 million in pre-seed funding, bringing its total funding to $7 million.
About AnimoChain
AminoChain is a platform that leverages blockchain technology to connect global inventories of biosample and research data. It aims to streamline pre-clinical research by allowing users to query and manage their sample collections while maintaining ownership of their assets and intellectual property. By tokenizing stem cells and other biosamples, AminoChain creates incentives for donors and fosters collaboration among researchers. This innovative approach helps build a secure, transparent, and efficient bio-economy, keeping patients at the center of biomedical research.
Website: https://aminochain.io/
About Investor
Investor: a16z crypto
a16z Crypto is a venture capital fund that invests in crypto and web3 startups. It is part of Andreessen Horowitz and has been investing in this space since 2013. The fund supports entrepreneurs building the next generation of the internet, focusing on blockchain and digital assets. They manage over $7.6 billion across four funds.
Location: Menlo Park, CA
Website: https://a16zcrypto.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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