Developer of R&D Platform for Chemical Industry Raises $7.5 Million
Albert Invent, a company developing an R&D platform for chemical and material science companies, has raised $7.5 million in seed funding. Index Ventures led the investment, with Homebrew, F-Prime Capital, and other angel investors also participating.
Albert Invent works with the chemical and material science industry to accelerate innovation with its state-of-the-art research and development platform. The company’s platform is already helping thousands of scientists worldwide dramatically expedite time to market. With the financial resources, Albert will onboard even more chemistry and materials science companies, helping one of the largest industries in the world develop the products that consumers use every day. Albert is already utilized by large chemical companies, including Henkel and Applied Molecules, a fast-growing manufacturer of formulated coatings and adhesives.
Albert is a collaborative, secure, end-to-end R&D platform powered by Albert Insights, which includes artificial intelligence and machine learning 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 can capitalize on data to support all stages of the innovation process, resulting in smarter experimentation and accelerated time to market. Albert connects processes, data, and insights in a single place to create one data source. It automates material tracking so that teams are aware of all inventory stock levels, hazardous materials, and regulatory compliance in real-time.
“Albert exemplifies the type of software company we seek to back," said Paris Heymann, partner, Index Ventures. "The platform was developed by a team with deep industry expertise, built specifically for customers who are digitally transforming their R&D efforts and developing the lab of the future. We are thrilled to partner on this journey to fundamentally change how physical products are created."
“When I first saw Albert, I was blown away. The fact that all of this information could be in one system and the value would grow organically with us, could be transformative,” said Michael Todd, vice president Innovation & New Business Development, Henkel. “At Henkel, we have always been about furthering innovation, and Albert has quickly become an indispensable part of that mission.”
To learn more, visit www.albertinvent.com.
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