# Flywheel Exchange

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flywheel-exchange

- Industry: Software
- Headquarters: Minneapolis, US
- Website: www.flywheel.io
- Total disclosed funding: $115M
- Latest round: Series F (Dec 23, 2025)
- Investors on record: 16

## About

Based in Minnesota, US, founded in 2012 by Brian Wandell, Gunnar Schaefer, and Troy Kopischke, Flywheel Exchange Inc. operates as a developer of an informatics platform designed for biomedical research and collaboration. Flywheel Exchange was created through a partnership with a Stanford University researcher, and in January 2026, Flywheel Exchange Inc. raised USD 25 million in venture funding co-led by 8VC and Novalis LifeSciences.

The company's platform provides an efficient, reproducible, and collaborative imaging AI infrastructure to improve imaging research efficiency, compliance, reproducibility, security, and analytical capabilities, thereby enabling healthcare businesses to enhance speed-of-discovery, funding opportunities, and reputation while reducing overhead and IT costs. The firm’s platform was designed to capture clinical data, including imaging, EHRs, digital pathology, and omics. Users can then curate the data with annotations and labels that are then available to the client organization.

Flywheel’s tech can then use its analytics to process and integrate data. Teams can also collaborate and share data using the tool. The company primarily focuses on the research industry, including the life sciences space, clinical research, and artificial intelligence (AI) for developers. 

The company plans to use the January 2026 funding to enhance its imaging data platform, build tools for clinical trials and AI applications, and grow its product offerings.

## Funding rounds

- Series F, Dec 23, 2025, $16M — 8VC, Novalis LifeSciences
- Series D, May 26, 2023, $50M — Beringea, Microsoft, Seraph Group, iSelect Fund Management, Invenshure, 8VC, Hewlett Packard Enterprise Development LP, Great North Ventures, Novalis LifeSciences, Gundersen Lutheran Medical Center Inc, Intuitive Ventures, nVentures
- Series C, Nov 10, 2021, $6M — Intuitive Ventures
- Series C, Aug 20, 2021, $21M — Beringea, Seraph Group, iSelect Fund Management, Alumni Ventures Group, dRx Capital, 8VC, Hewlett Packard Enterprise Development LP, Argonautic Ventures, Great North Ventures, KEY Investment Partners
- Series B, Oct 28, 2020, $21M — Beringea, iSelect Fund Management, dRx Capital, 8VC, Hewlett Packard Enterprise Development LP, Argonautic Ventures, Great North Ventures
- Series A, Dec 27, 2017 — Argonautic Ventures

## Investors

- Argonautic Ventures (https://capitalatlas.ai/funds/argonautic-ventures) — Series A, Series B, Series C
- Beringea (https://capitalatlas.ai/funds/beringea) — Series B, Series C, Series D
- iSelect Fund Management (https://capitalatlas.ai/funds/iselect-fund-management) — Series B, Series C, Series D
- dRx Capital (https://capitalatlas.ai/funds/drx-capital) — Series B, Series C
- 8VC (https://capitalatlas.ai/funds/8vc) — Series B, Series C, Series D, Series F
- Hewlett Packard Enterprise Development LP — Series B, Series C, Series D
- Great North Ventures (https://capitalatlas.ai/funds/great-north-ventures) — Series B, Series C, Series D
- Seraph Group (https://capitalatlas.ai/funds/seraph-group) — Series C, Series D
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series C
- KEY Investment Partners (https://capitalatlas.ai/funds/key-investment-partners) — Series C
- Intuitive Ventures (https://capitalatlas.ai/funds/intuitive-ventures) — Series C, Series D
- Microsoft — Series D
- Invenshure — Series D
- Novalis LifeSciences (https://capitalatlas.ai/funds/novalis-lifesciences) — Series D, Series F
- Gundersen Lutheran Medical Center Inc — Series D
- nVentures — Series D