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LabDAO Raises $3.6 Million for Decentralized Drug Discovery Exchange with NFT Integration

LabDAO, a decentralized autonomous organization that focuses on open-source drug discovery, has raised $3.6 million in a funding round led by Inflection.xyz and Village Global. Other investors in the round included North Island Ventures, Seed Club Ventures, ID Theory, Road Capital, Curve Labs, gmjp.lol, Molecule, Gnosis DAO, The LAO, Orange DAO, Beaker DAO, Spaceship DAO, and former Coinbase CTO Balaji Srinivasan.

The funding coincides with the launch of the PLEX software platform, which allows scientists to interact with the Lab exchange and run computational services. LabDAO has containerized resource-intensive computational services to make it easier to run data, which can then be linked to non-fungible tokens for scientists to prove ownership of their data. The exchange will be governed by a DAO structure in the future, but for now, LabDAO is focused on building out the exchange and creating utility for scientists both inside and outside of academia.

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