Aizon, an artificial intelligence (AI) Software as a Service (SaaS) provider for pharmaceutical manufacturing operations, has secured $20m in Series C funding to expedite its development pipeline.
The investment will also enable the company to enhance the outcomes in pharma manufacturing by scaling its operations and improve customer service.
A growth equity fund specialising in pharmaceuticals and biotechnology service businesses, NewVale Capital, led the financing round.
Current investors, including Atlantic Bridge, Uncork Capital and Crosslink Capital have also contributed to the funding, reaffirming their commitment to Aizon’s growth and the potential of AI in pharmaceutical manufacturing.
The capital injection will be instrumental for Aizon to expand its reach and capabilities in the pharmaceutical manufacturing sector.
Aizon CEO and co-founder Pep Gubau said: “This investment is pivotal to the future growth of our company as it validates the success of our platform and enables us to better execute on our strategic roadmap.
“With this additional capital and the support of our partners, we can accelerate the launch of our innovative eBR solution in Q3 2024. We are excited to introduce this transformative solution, underscoring our commitment to continually advancing our offerings and empowering our customers with the most effective, cutting-edge technologies.”
Aizon’s platform utilises predictive analytics and AI smart factory technologies with accessible Good Manufacturing Practice (GMP) AI platform to optimise manufacturing processes within the pharmaceutical industry.
The company will also aid customers to gain next-generation insights and boost decision-making, which can lead to novel optimisation paths, cost reductions, forecast deviations and improved manufacturing systems.
Focusing on stringent quality and compliance, Aizon follows GAMP5 for GMP processes to guarantee compliant data acquisition, storage, and consumption.
NewVale Capital managing partner Todd Holmes said: “Aizon’s AI-driven solutions are poised to redefine pharmaceutical manufacturing and we are excited to play a role in this next chapter, as the company continues to grow and transform this industry.
“Our focus is on companies that serve the pharmaceutical space with a proven business model and strong value proposition to their customers, and Aizon exemplifies the type of partner we’re looking for.”