Faro, an AI platform for clinical trial optimization, closed a $37.3 million Series B round co-led by Merck Global Health Innovation Fund and S32. The funding will support development of data models and AI tools designed to streamline trial processes.
Faro's platform uses artificial intelligence and data modeling to reduce the time and complexity of clinical trials. The company targets a critical bottleneck in drug development—lengthy trial timelines that delay patient access to new treatments.
Merck Global Health Innovation Fund and S32 jointly led the Series B investment, signaling confidence from both a major pharmaceutical player and institutional capital. The round validates demand for AI-driven solutions in clinical research.
Clinical trials remain expensive and time-consuming, often taking years to complete. Faro's tools aim to optimize patient recruitment, data collection, and trial design to accelerate timelines. The company joins a growing number of startups applying machine learning to pharmaceutical and healthcare operations.
The funding provides Faro runway to expand its technology platform and customer base within the pharma and biotech sectors.
Metriport secured $26M in Series A and seed funding led by Matrix GP, bringing its total funding to $28.4M. The startup provides tools that enable doctors to retrieve and manage patient data.
Ajaib, a Stanford-founded stock trading app, secured $270 million in Series C funding from SBI Holdings, marking Indonesia's largest tech fundraising round since 2022.
Town, an enterprise personal AI assistant platform, is in talks to raise funding at a $1 billion valuation in a round led by Index Ventures, according to sources.
Product management platform Linear reached $100M in annual recurring revenue and conducted a $99M employee tender offer at a $2.5B valuation, doubling its valuation from $1.25B in 2025.