$6m seed funding for Cambridge University spin-out
Regulatory Genome Development Ltd (RegGenome), a commercial spin-out from the University of Cambridge, has completed a $6 million seed funding round led by Evolution Equity Partners.
There was participation from AlbionVC, Cambridge Enterprise and Mastercard. Richard Seewald, managing partner of Evolution Equity Partners, will join RegGenome’s board of directors.
RegGenome’s vision is to transform the way the world consumes regulatory information. The company provides structured machine-readable regulatory content that is dynamic, granular, and interoperable, all powered by AI-based textual information extraction techniques.
This enables regulatory authorities to increase accessibility and dissemination of regulatory information and empowers organisations to deepen their regulatory intelligence and digitise their compliance and risk management processes.
Professor Robert Wardrop, executive chairman of RegGenome, said: “We are thrilled to be working with a group of investors that share our view that the world is rapidly entering into a period of regulatory uncertainty, requiring interoperable content to power the next generation of regulatory applications for the digital economy.”
Richard Seewald, founder & managing partner at Evolution Equity Partners, added: “We are excited to be partnering with Regulatory Genome and the tremendous team it has in place.
“Deepening regulatory intelligence and digitising compliance and risk management functions utilising machine learning and interoperability with cybersecurity, fintech and ESG presents tremendous opportunity for the company.”
Dr Marcio Siqueira, head of Physical Sciences, Cambridge Enterprise, said:
“RegGenome is a superb example of how the University of Cambridge’s transformational intellectual property can be applied for global impact. RegGenome is primed to deliver a quantum leap in how regulatory content is shared and harnessed.
“Cambridge Enterprise has been an integral part of RegGenome from the outset, from enabling access to the required technology to investing in its funding. We are looking forward to seeing RegGenome’s vision come to life.”