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Venture Capital News: Somite Announces $5.3M Pre-Seed Financing

2024-04-16
BOSTON, MA Somite, a company aiming to become the OpenAI of stem cell biology, announces that it has raised $5.3 million in pre-seed funding.
The round was led by Israel's preeminent Venture fund TechAviv, and joined by renowned Austin-based VCs Next Coast Ventures, Trust Ventures and Texas Venture Partners as well as NY-based Lerer Hippeau and others. The funds will be used to continue development of Somite's proprietary AlphaStem AI platform, building Somite labs and bringing the first therapeutic asset to phase 1 clinical trials.

Somite.ai is a venture-backed company aiming to become the OpenAI of stem cell biology, developing AI foundation models to produce human tissue for cell therapies at scale for diseases such as diabetes, obesity, and muscular dystrophies. Somite's AI platform, AlphaStem, fuels a virtuous cycle: It enables new cell therapies, generating massive data that further improve the platform, empowering even faster therapy creation with broader applications.
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