Kaleidoscope raises $6M for its collaboration platform for research science teams – AlleyWatch

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Scientific research is traditionally carried out by efforts and sometimes by design, among individual practitioners, engineers and scientists. However, we are moving towards a future where there are more opportunities for collaboration between different disciplines. Kaleidoscope is a software platform created by scientists to effectively manage collaboration across different teams. The volume of data in scientific research has increased exponentially and the platform effectively manages, organizes and tracks data in a project whether in a wet lab or with a computational team. Kaleidoscope also integrates seamlessly with other software platforms, removing any friction or barriers to building a modern approach to scientific research that is also scalable. The company is currently in private beta.

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AlleyWatch caught up with Kaleidoscope CEO and cofounder Bogdan Nezevic to learn more about the business, the company’s strategic plans, recent funding rounds, and more…

Who were your investors and how much did you raise?

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We raised a $6M seed round co-led by Hummingbird Ventures and Dimension, with participation from Caffeinated Capital, SV Angel, Hawktail, Gunderson and multiple angel investors.

Tell us about a product or service that Kaleidoscope offers.

Kaleidoscope is a software platform that helps scientific teams organize, manage and track experiments. Using Kaleidoscope, companies can connect the rest of their software tools and centralize knowledge (facilitating collaboration across teams), as well as systematically track scientific decision-making. Our goal is to make science more collaborative, reproducible and scalable.

What inspired the introduction of the kaleidoscope?

Before starting Kaleidoscope, I spent time as a scientist in many contexts, and was always frustrated with how much time I was wasting doing things unrelated to science (like tracking data or project information). Doing). Ahmed, David and I really wanted to find the right problem to solve – one that we thought would make the biggest difference in the field and we could see ourselves working on for 10+ years. After the first few months of talking to hundreds of people and teams working in the life sciences, we realized that what we’re working on now had a real unmet need, which cost companies tens or hundreds of millions of dollars. And there were countless wasted opportunities. ,

How is Kaleidoscope different?

The kaleidoscope sits one level above the typical software devices in the area, and is meant to act as connective tissue in all of them. In addition, we are built with both experimentation and computation in mind, which means we support users with multiple backgrounds and use cases that involve both branches. Ultimately, we’re obsessed with creating simple, intuitive and magical products that users love to use – we firmly believe that scientific teams, doing incredible things, deserve incredible software.

What market does Kaleidoscope target and how big is it?

We are starting with the life sciences market (there are thousands of these) with an initial focus on biotech and pharma. However, our product is more broadly focused on R&D, and our long-term objective is to be the software that is used by all R&D teams in the world.

What is your business model?

We are a software as a service company, so our customers (usually companies or teams of companies) pay for a subscription to the platform.

How are you preparing for a possible economic downturn?

One of the reasons we raised how much we liked was to focus on building the best product that solves the problem, without worrying about the market and re-raising in several months.

How was the funding process?

It was intense, but I think we did a great job driving a focused, hard process. We didn’t want fundraising to take too long over several months, and instead made sure we had a clear story to tell, with clear goals in mind, and that we were talking to the investors we were talking to. who understood this area. It was a bi-directional learning process: investors learned about us, but we also used the time to learn about them, because partnering with the right investors is key. Ultimately, we wanted to work with people who believed in us as a team, who had been in it for a long time, and who shared the same long-term vision we had.

What were the biggest challenges you faced while raising capital?

Finding the right investor is not as easy as it may seem. Sometimes, we had to have a few conversations before we realized whether someone was a good fit for what we were doing. It was important for us to get to this point of understanding as efficiently as possible, so that we could go back to manufacturing the product.

What factors about your business inspired your investors to write checks?

I think it was mainly two things: (1) as a team and (2) the emerging opportunities in the space. As founders, Ahmed, David and I have a uniquely suited background for building Kaleidoscope. I already mentioned that I was a scientist (my Ph.D. was in Multi-omics and Drug Discovery); Ahmed is a phenomenal software engineer with experience as a founding engineer who builds many products from the ground up, and David is an incredible product and design leader, in contexts spanning from the first employee at a Google-acquired startup. Worked, working method on all Google Health. That, coupled with the fact that there is a huge gap between how research teams are doing and how work is evolving versus the software that exists today.

I think it was mainly two things: (1) as a team and (2) the emerging opportunities in the space. As founders, Ahmed, David and I have a uniquely suited background for building Kaleidoscope. I already mentioned that I was a scientist (my Ph.D. was in Multi-omics and Drug Discovery); Ahmed is a phenomenal software engineer with experience as a founding engineer who builds many products from the ground up, and David is an incredible product and design leader, in contexts spanning from the first employee at a Google-acquired startup. Worked, working method on all Google Health. That, coupled with the fact that there is a huge gap between how research teams are doing and how work is evolving versus the software that exists today.

What are the milestones you plan to achieve in the next six months?

We want to find the right set of initial customers/partners to support as well as iterate on the product, and we want to hire the right starting team that will allow us to do this while pushing the boundaries of the product. Will give

What advice can you give to companies in New York that don’t have a fresh injection of capital in the bank?

This is a difficult question because it can be a very stressful, high-pressure situation. I’d probably say look inward and focus on what’s core to the business – what the business does best and what doesn’t get accomplished otherwise.

Where do you see the company going in the near term?

I think it’s really important for us to spend in the near term refining our understanding of how to deliver the most robust, differentiated value to our customers. We’re going to focus on learning from the right set of early customers that we can support from day one, but who are also aligned with our long-term vision.

Which is your favorite outdoor dining restaurant in NYC?

I love the patio at Jeffrey’s Grocery, and I also recently discovered Rule of Thirds (in Greenpoint), which also has a really nice outdoor space.

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