‘Big data’ software firm Platinum Informatics is preparing to scale up after receiving £300,000 from a Scottish Enterprise fund.
The Dundee University spin-out provides cloud-based software capable of analysing vast amounts of information for laboratories.
The company received the cash injection from the Early Stage Growth Challenge Fund managed by Scottish Enterprise.
The fund was set up to support high growth Scottish companies to overcome the challenges and impacts of Covid-19 and is awarded on competitive merit.
Mukesh Moorjani, chief executive of Platinum Informatics, said: “This fund recognises the challenges of high growth, innovative Scottish companies such as Platinum Informatics during the coronavirus pandemic.
“It will enable us to scale our operations and deliver our vision, to build a world class laboratory informatics company that will bring the digital laboratory of the future to the research laboratories of today.”
The fast-growing has previously revealed it wants to build a world-class global business worth £250 million and to create more than 100 new high-tech jobs based in Dundee.
The firm provide software solutions for the management, visualisation and analysis of large and complex data sets in a wide range of laboratory and industrial environments.
The chief executive added: “We are pleased to be recognised for our innovative research within the field of precision medicine and our potential to aid the recovery of the local Dundee and wider Scottish economy in what are challenging times for businesses throughout Scotland.
“As a spin out company from the University of Dundee School of Life Sciences, our informatics solutions are developed by experts in their field.
“Our distinct software enables process optimisation, remote working, improved regulatory compliance and enhanced data quality.
“In the current Covid-19 climate, our focus on application in early stage drug, vaccine, and biomarker discovery in the ever-expanding field of precision medicine is particularly pertinent.
“With the aim to transform scientific experimentation with our software solutions, the awarding of such funding will enable Platinum Informatics to maintain our specialist developments in this field, whilst continuing to be an employer of globally recognised scientists and talent.”
Source: The Courier