Albert Invent, Oakland, California, the company empowering global organizations to accelerate innovation with its state-of-the-art R&D platform, announced $7.5 million in seed funding. Index Ventures led the investment in Albert Invent, whose platform is already helping thousands of scientists worldwide expedite time to market. Homebrew, F-Prime Capital and prominent angel investors also participated in the round.
With the additional financial resources, the company will onboard even more chemistry and materials science companies, helping one of the largest industries in the world develop the products that touch consumers’ everyday lives. Albert is already utilized by some of the largest and prominent companies, along with emerging startups, around the world, including Henkel, the world’s leading producer of adhesives, sealants and functional coatings; 3D Systems, one of the largest 3D printing technology companies; and Applied Molecules, fast growing manufacturer of formulated coatings and adhesives.
Breaking down innovation barriers caused by siloed and disconnected R&D processes and systems, Albert is a collaborative, secure, end-to-end R&D platform powered by Albert Insights – which includes artificial intelligence (AI) and machine learning (ML) to simulate experiments, a rapidly-growing database of industry standards and more than 50,000 commercially available materials. With Albert’s capabilities, R&D teams are able to capitalize on data insights that support all stages of the innovation process, resulting in smarter experimentation and accelerated time to market. Albert’s API-forward platform enables sharing data with key systems within and beyond R&D and provides the opportunity for internal teams or external partners to build custom apps, driving data-driven insights and collaboration.
Albert’s Inventory module comes with a pre-loaded library of 50,000+ commercially available chemicals so that teams can easily explore and find new materials. It also automates material tracking so that teams are aware of all inventory stock levels, hazardous materials and regulatory compliance in real-time.
Powered by Albert Insights, Albert’s Worksheet allows scientists to stop working in Excel and makes it easy for teams to more effectively design new formulations that result in fewer iterations. It is part of a holistic system that draws upon past experimentations and enables easier collaboration. Experiments help teams to boost productivity with clean structured data captured in tasks and workflows, while Regulatory Automation makes it possible for organizations to ship products same day with automated Safety Data Sheets (SDS) and label generation.
Customers in more than 30 countries have already experienced tremendous ROI. Scientists have shared they are now able to work on two to three times the number of projects, while increasing the value of products invented. Additionally, development cycles have been dramatically reduced because Albert delivers the data insights and tools needed to eliminate guesswork, refine processes and enable better resource allocation.
For more information, visit www.albertinvent.com.
