YEREVAN, FEBRUARY 10, ARMENPRESS. Granatus Ventures, the leading venture capital firm in Armenia, has recently backed yet another deep tech company, Modicus Prime which is an AI-powered computer vision company that specializes in cutting edge quality control systems for the pharmaceutical industry.
Granatus Ventures did not disclose the amount of the investment.
Modicus Prime develops proprietary software solutions that provide real-time visual analysis of biologic imagery and alert on identified contamination, thereby acting as a custom. continuous quality control tool in pharmaceutical R&D and manufacturing that is highly accurate and cost-efficient, Granatus Ventures said in a press release.
“Founded and led by Taylor Chartier, a pharmaceutical data scientist with extensive experience in biologics design, quality control and AI applications within the field. She is excited about the partnership with Granatus Ventures, and believes that Granatus’ international reach spanning Armenia to USA and Europe will give Modicus Prime additional footing in the pharmaceutical industry across the globe. The technical team is led by David Vardanyan, a highly experienced in software engineer, with roles at several Big Pharma companies prior to Modicus Prime. The company already has a team of Armenia-based software engineers. Modicus Prime currently runs partnerships with some of the biggest pharmaceutical companies in the world, and was also part of Techstars Class of 2022. Manuk Hergnyan, the Managing Partner at Granatus Ventures, believes that Modicus Prime tackles the sanctum sanctorum of pharmaceutical production – quality, and its solution will grow to become an indispensable part of the pharmaceutical industry in the near future. The investment from Granatus Ventures will help the company to accelerate the development of its flagship solution and hire additional talent to support its further growth and expanding pipeline,” the venture capital firm said.