Biotech firm Elucidata raises $16 mn in its Series A funding round

Biotech firm Elucidata has raised $16 million in its Series A funding round led by Eight Roads Ventures. Along with existing investors, IvyCap Ventures and Hyperplane Venture Capital, the round also saw participation from F-Prime Capital. Elucidata focuses on life sciences R&D through its machine learning platform, Polly. It was founded by Abhishek Jha, Swetabh Pathak and Richard Kibbey.