Swedish VC firm GLD Invests in Bioinformatics Software Company Qlucore

GLD Invest, a Swedish venture capital Firm, recently invested in Swedish bioinformatics company, Qlucore AB. Qlucore created Omincs Explore Software, a bioinformatics software tool developed for analyzing scientific data. Omincs analyzes and breaks down information from from gene expressions, microarrays, real-time PCR, DMA methylation, and other forms of scientific data. It’s primarily used by funded academic and pharmaceutical research labs.

GLD invested just under a million dollars or precisely $840,000 in Qlucore. Qlucore will use the funding to expand operations in the US and support further software development. Depending on the Qlucore cash burn rate, the company will likely be seeking additional funding in the coming months, or working diligently on rapidly closing sales. $840.00 isn’t a significant amount to expand its business to the United States. Qlucore will need to consider expenses such as wages, work permits, relocation costs, and attorney fees.

Qlucore was founded in 2007 from a collaborative research project at the Lund University Mathematics and Clinical Genetics department in Sweden. It’s founders — Thoas Fioretos, Johan Rade, Magnus Fontes, and Carl-Johan Lvarsson — developed Qlucore legacy software to visualize data in 3D and to help researchers pinpoint hidden patterns. In 2012, Qlucore was quoted to have customers in 17 different countries in the Life Sciences and Biotech industries.

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