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The company was among 10 winners chosen from 1,414 applicants.
The investment selection comes through BE100 Fund II, managed in partnership with Haatch. Genomate helps oncologists identify and rank targeted treatment options using the molecular profile of a patient’s tumor.
“The most exciting thing about this win is what it could mean for a patient who has never heard of Genomate,” said Dr. István Peták, founder and chief scientific officer of Genomate Health. “We’ve spent years building technology that helps doctors choose the right targeted therapy for each patient, based on the unique combination of mutations driving their tumor.”
Blue Earth announced the winners at its summit at Woolwich Works in London, held Oct. 14-16. The businesses span 10 industries, including clean industrial heat, water recovery, cancer-treatment decisions and access to financial services.
Each winner has been selected for at least GBP 100,000, bringing the combined investment to a minimum GBP 1 mln. The companies are collectively seeking GBP 27.8 mln to support their growth, with Blue Earth aiming to use its investment to attract further backing.
“We’re never going to be the biggest cheque in their cap table, but we want to be catalytic,” said Guy Hayler, co-founder and chief commercial officer of Blue Earth. “We want our investment to help bring other investors on board, and our network to help these businesses reach customers.”
Blue Earth expanded the number of winners from three last year to 10 this year. Other winners include VNYX, which uses robots to prepare clothing for resale, and Odqa, which develops solar-powered industrial heating technology.
Hayler said Blue Earth would promote the winners over the following four weeks ahead of final investments, introduce them to other investors and connect them with potential customers and banking, legal and employment expertise.
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