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Genemod Raises $1.7M in Oversubscribed Seed Round to Drive the Next Generation of Medicine

SEATTLE, Oct. 13, 2020 /PRNewswire/ — Genemod, a software solution for life scientists that uses data automation to streamline and accelerate research, today announced a $1.7M seed funding round led by Defy.vc with added support by Omicron, Unpopular Ventures, Underdog Labs, and Canaan Partners Scout Fund. The funding will enable Genemod to now include a complimentary product management software alongside the company’s flagship life sciences inventory management service. The funding is a stepping stone to bring Genemod’s vision to life as the company solves the problems around data sharing for biotech companies allowing research to be repeatable and cures to be developed at a faster pace.

Genemod’s cloud-based solutions offer biotech companies the ability to maximize productivity and consolidate data sharing with one collaborative workspace. By streamlining inventory, experiment, application and data management, Genemod helps scientists conduct repeatable research and develop cures faster. Labs from nationally recognized institutions, including the University of Washington School of Medicine, the University of California, Berkeley and the National Institutes of Health rely on Genemod’s cloud-based solutions to accelerate life sciences research and drug discovery. Today’s funding will allow Genemod to grow its current headcount by 50 percent and expand its customer base beyond academic institutions and into small enterprises.

“While the life sciences industry is known for developing inventive solutions to some of the world’s biggest health problems, many scientists are working with manual, siloed and inefficient processes,” said Jacob Lee, CEO and co-founder, Genemod. “Genemod aims to make a scientist’s journey just as innovative as their destination, driving faster and more creative problem solving. Today’s funding will allow us to make a major step toward achieving this goal.”

Alongside the funding, Defy.vc will serve as a growth partner for Genemod, supporting the company as it works to roll out its product roadmap for the latter half of the year. Neil Sequeira, co-founder and managing director of Defy.vc, will join Genemod’s Board of Directors.

“It is crucial to invest in companies leveraging technology to provide software for scientists working on the frontlines of solving the world’s global health challenges,” said Neil Sequeira, co-founder and partner, Defy.vc, “our firm believes that investing in software companies like Genemod will create incredible value in a variety of ways and rapidly solve some of the biggest impediments facing research and discovery.”

Founded in 2018, Genemod was part of the first Launch Lab from Venture Out Startups a company that helps early-stage founders gain traction with their product by acting as a ‘Co-founder as-a-Service.’

About Genemod

Genemod helps biotech companies maximize productivity through cloud-based inventory and product management solutions that drive the next generation of therapies. Life scientists and researchers use Genemod to collaborate on research, inventory reagents and streamline workflows. Alongside some of the world’s leading biotech institutions, including the Fred Hutchinson Cancer Research Center and the University of Washington School of Medicine, Genemod’s long-term vision is to enable organizations to develop cures faster by offering technologically advanced, pre-clinical

Caliber, with $2.2 million in seed funding, launches a fitness coaching platform

The coronavirus pandemic has thrown the fitness space for a loop. Caliber, a startup that focuses on one-to-one personal training, is today launching a brand new digital coaching platform on the heels of a $2.2 million seed round led by Trinity Ventures .

Caliber launched in 2018 with a content model, offering an email newsletter and a library of instructional fitness content.

“My cofounders started testing the idea of coaching people individually and that’s where the light bulb really went off,” said cofounder and CEO Jared Cluff. “They saw that more than anything, people need expert guidance and a really genuinely personalized plan for their fitness routine.”

That was the origin of Caliber as it is known today.

When users join the platform they are matched with a Caliber coach. The company says that it brings on about five of every 100 applications for coaches on the platform, accepting only the very best trainers.

These coaches then take into account the goals of users and build out a personalized fitness plan in conjunction with the user, which begins with a video or phone consultation. Once the plan, which is comprised of strength training, cardio and nutrition, is finalized, the coach loads it into the app.

Users then follow the instructions from their instructor via the app and log their progress. Interestingly, these aren’t live video appointments with a trainer, but rather an asynchronous ongoing conversation with a coach that is facilitated by the app.

Users can also integrate their Apple Health app with Caliber to track nutrition and cardio, giving the coach a full 360-degree view of their progress.

Alongside providing feedback and encouragement, the coach ultimately provides a layer of accountability.

This combination of real human coaching in a less synchronous, time intensive manner has allowed for Caliber to charge at a higher price than your standard workout generator apps but come in much lower than the average cost of an actual, in-person personal trainer.

Most Caliber users will pay between $200 and $400 per month to use the platform. Coaches, which are 1099 workers on Caliber, take home 60 percent of the revenue generated from users.

Pre-launch, Caliber has more than tripled its membership across the last six months and increased the number of workouts per member by 150 percent, according to the company. Cluff says the startup is doing north of $1 million in annual recurring revenue.

Of the 41 trainers on the platform, 37 percent are female and about a quarter are non-white. On the HQ team, which totals seven people, one is female and two-thirds of the founding team are LGBTQ.

“The biggest challenge is not dissimilar to the challenge we faced at Blue Apron, where I was most recently, in that we wanted to create the category around mealkits,” said Cluff. “We want to build a category around fitness training in a space that is super fragmented with no branded leader.”

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Digital Fitness Startup TREAD Raises $1.1 Mn In Seed Round

The startup will use these funds for scaling its product development and community expansion

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Bengaluru-based digital fitness startup TREAD has raised its first round of funding of $1.1 million from a clutch of investors. The round saw participation from Better Capital, Unacademy founders Gaurav Munjal, Roman Saini and Hemesh, Udaan founder Sujeet Kumar, CRED founder Kunal Shah, Citruspay founder Amrish Rau, MPL founders Sai Srinivas and Shubh Malhotra, Jupiter founder Jitendra Gupta, RedBus founder Phanindra Sama, Whiteboard Capital, FirstCheque and Stanford Angels, among others.

“The company promises to deliver live streamed group workout sessions through its mobile app and website. Fitness experts across the country will use the platform to deliver a wide range of workouts, counts as yoga, HIIT (high-intensity interval training) and cardio with strength and conditioning workouts,” said a statement from the company.

“We are excited to announce our first ever fundraise for TREAD, a visionary homegrown online fitness startup that aims to advance the ‘Fit India’ initiative by offering holistic workouts which are accessible and affordable to everyone in India and in Bharat. This fundraise gives us the initial capital to rapidly build out our product, our content across social platforms and to onboard thousands of professional trainers from across the country,” said TREAD founder and chief executive officer Dinesh Godara. “Our immediate goal is to launch an immersive and gamified experience for users to choose their workouts and make consistent progress on their fitness goals.”

Data from MoEngage shows that between the first quarter and the second quarter of 2020, health and fitness app downloads grew by 46 per cent worldwide whereas India saw the highest increase in downloads, rising by 156 per cent that translates to 58 million new active users.

“In this post-COVID world, people are cautious about social distancing and are hesitant to head back to the gyms and fitness centers. Workout from home has become a new normal in fitness around the world. TREAD is squarely positioned around this need and is offering the full range of workouts via online sessions with best-of-breed trainers across all categories.”

“TREAD is building a rich experience for users to pick up workouts, find trainers of their choice and compete with their peers, and track progress via a gamified dashboard. TREAD is also creating rich tools for trainers to conduct highly engaging group workout sessions where users feel connected to their trainers similar to their offline experience” Godara added, while pointing to the current opportunities and way forward for the establishment.

“The startup is in talks with multiple venture capital firms for its Series A round of funding,” said the statement.

A report by Data Bridge Market Research on the fitness app market said the fitness app market is expected to witness market growth at a rate