Litmaps secures NZD $1.4 million to drive global platform growth
AI-powered research discovery platform Litmaps has completed an oversubscribed fundraising round, securing NZD $1.4 million to support its product and user base expansion.
The latest investment round attracted participants from several markets, including the United States, United Kingdom and Australia. Scholarly Angels, a UK-based group founded by Andrew Preston of Publons, led the round, which also included backing from the Australian Private Investment Company No Brand.
This funding comes on the heels of Litmaps' acquisition of the research tool ResearchRabbit. With the integration, Litmaps now claims a combined global user base of over two million researchers, establishing its presence among digital research discovery platforms.
Development focus
Axton Pitt, Co-founder and Chief Executive Officer of Litmaps, highlighted the significance of the raise and outlined the company's aims for the combined platform.
"Closing this round oversubscribed is a real vote of confidence for the future of Litmaps. With the integration of Litmaps and ResearchRabbit, we're building a single platform that does the legwork for researchers by surfacing the insights that matter, faster. This is about maximising the value of every researcher's time and helping them push the boundaries of knowledge."
The platform's approach diverges from conventional search engines and databases by applying a visual interface, transforming citation networks into interactive maps. This provides researchers with a clearer picture of completed work and potential gaps in the relevant literature.
How it works
Litmaps' system models a researcher's current knowledge and incorporates AI-driven analytical features. According to the company, the platform is designed to filter out irrelevant or inaccurate results, helping users discover connections that might otherwise be overlooked. The backbone of the data used is open metadata from recognised sources, including Nature, The Lancet, PubMed and arXiv.org, ensuring reliability in the information presented.
Pitt commented further on the user experience and the importance of trust in research tools:
"We've built a product scientists actually want to use. It's fun, intuitive and most importantly - trusted. When you're making decisions that affect your whole career or large investments in R&D, you need confidence. Litmaps gives users that confidence because its outputs are verified. It is not a black box and you can see this evidence visually."
Adoption in academia and industry
The platform has seen adoption from researchers at a range of institutions globally, including Harvard, Stanford, Imperial College London and Cambridge. Its user base also extends to artificial intelligence laboratories, medical technology firms and research and development teams from various sectors.
Feedback from users describes Litmaps as functioning as a 'second opinion' before researchers embark on lab work or clinical activities. It is valued for its capacity to ensure key literature is not overlooked and to provide a rapid overview of a given research area.
Next steps for Litmaps
With the new capital, Litmaps is focusing on combining the features of both Litmaps and ResearchRabbit into a single platform. The company states this merged product will emphasise a more intuitive interface, richer data insights and a unified experience for researchers worldwide.
Pitt concluded:
"Research is truly having a moment. Science and technology are converging in ways that mean rapid acceleration and possibility. Litmaps sits right at that intersection - helping to fuel momentum by giving researchers the clarity and tools they need to move discovery forward."
