PORTUGAL – iLoF, an Oxford, UK and Porto, Portugal- based digital health company, raised $5M in funding.
The $4.1m round was led by Faber, with participation from M12, Quiet Capital, Lunar Ventures, Alter Venture Partners, re.Mind Capital, and Fluxunit, the corporate VC arm of ams OSRAM. Angel investor Charlie Songhurst, former GM at Microsoft, and Berggruen Holdings, the family office of Nicolas Berggruen, a serial investor and philanthropist, also participated. iLoF also secured a $900k grant from ERDF to accelerate and clinically validate its mission of cutting the time and cost of recruiting patients for clinical trials.The company intends to use the funds to accelerate ongoing engagements with global corporations in the Pharmaceutical, Biotech, and Clinical space. Led by CEO Luis Valente, CSO Paula Sampaio, and COO Mehak Mumtaz, iLoF is advancing an AI-platform to accelerate the future of personalized drug discovery and development. Through advanced AI and Photonics, iLoF is collecting massive amounts of data to build a digital library of biomarkers and biological profiles, bringing together physicists, biologists, and data scientists to get life-saving personalized treatments to patients faster. 28/07/2022
