Jessica Richman and Zachary Apte, founders of uBiome, have launched an AngelList group aimed at providing financial support to early stage companies in the microbiome industry. The two formed their company, which has now become a leading organization in their industry, through the angel funding process. They are now joining other successful entrepreneurs who have become angel investors and created AngelList groups to help early stage companies.
Dave Morin is among the renowned investors set to join the microbiome group. Commenting on the issue, Dave said that there are numerous opportunities in the microbiome industry which is also poised for immense growth.
A microbiome is a group of bacteria found in and on human bodies. These bacteria have both positive and negative health impacts on human beings. Some of the positive impacts is that they help in food digestion and in the synthesis of vitamins. Therefore, lack of these beneficial bacteria could lead to serious health implications. The general clinical understanding of these bacteria is still new, which has boosted the interest of ongoing studies in confirming the crucial role that microbiomes play in human health. This has created more interest towards identifying drugs and therapies related to microbiomes.
This is where AngelList comes in. AngelList was established in 2010 by Babak Nivi and Naval Ravikant. It started as an online platform for helping tech startups get seed capital. It now connects startup companies with angel investors for free. Naval has welcomed the launch of Microbiome Fund saying that such initiatives also give AngelList investors the opportunity to invest in innovative and world-changing startup companies, which is the main goal of AngelList.
Angels investing in Microbiome Fund will be able to pledge their investment amount on AngelList platform, then choose whether to be involved in all investments of the group or in one project at a time. This is the first investment group globally to focus only on the microbiome industry.
Jessica Richman, CEO and founder of uBiome, said that the study and development of microbiome technologies are among the most promising and purposeful efforts in the health sector now. Zachary Apte, co-founder of uBiome, said that technology is enabling early state microbiome companies to make great advances in their studies, reducing cost of microbiome sequencing from millions of dollars to only $89 within one decade of working on it.