Surbhi Sarna raises $30 million to automate biotech paperwork

In early 2023, Surbhi Sarna, previously a partner at Y Combinator, raised $30 million in seed funding for her new startup, Collate, aimed at automating the documentation processes in the life sciences sector. The funding was led by Redpoint and valued the startup at over $100 million, highlighting significant investor interest in such innovations. Sarna's previous venture, nVision Medical, was sold for $275 million, demonstrating her successful track record in the industry. Given the massive amounts of paperwork required in drug and medical device production, Sarna identified a critical opportunity to leverage artificial intelligence for this purpose. The startup emerged from stealth mode with a clear vision to address one of the biggest challenges in life science companies: handling extensive documentation for research, clinical trials, product development, and manufacturing processes. In her conversations with industry experts and potential investors, Sarna emphasized that managing this documentation could often feel tedious, yet incredibly crucial for compliance and operational efficiency. Although Collate currently has no commercial products or customers, Sarna expressed a strong belief in the company's potential and intends to secure two or three large clients in the coming months. Following her struggles with ovarian cysts during her teenage years, Sarna has been deeply passionate about women's health. She developed a device for the detection of ovarian cancer and has been recognized in the 2014 Forbes 30 Under 30 list. Sarna’s partnership with chief technology officer, who joined through an unexpected conversation during a visit, further strengthens Collate’s potential for impactful software development. Investors like Satish Dharmaraj are optimistic about the startup's model, describing it as a low-velocity, high-contract value selling approach to the market, suggesting that once clients are onboarded, the partnerships will be long-term and impactful. In the broader context, artificial intelligence has been making inroads into various sectors of healthcare, with many startups focusing on different facets of technology’s application in the industry. Sarna’s strategic approach aims to differentiate Collate by addressing the paperwork side of life sciences, which is often overlooked compared to more advanced AI applications. The startup stands at the intersection of urgent market needs and available technologies, allowing Collate to carve out a unique position. With many organizations in life science struggling with documentation, Sarna’s profound insights gained from her past experiences place her in a strong position to address the industry’s gaps. The forthcoming months are critical for Collate as it seeks to establish itself firmly in this competitive landscape.