US EditionThis Startup Backed By OpenAI and Jobs Family Is the Latest A.I. Drug Discovery Unicorn
Chai Discovery raised $130 million at a $1.3 billion valuation to accelerate AI-driven drug development with its new antibody-designing Chai 2 model, backed by major investors.
- Yesterday, Chai Discovery announced a $130 million Series B at a $1.3 billion valuation, identifying the San Francisco-based startup backed by OpenAI.
- The startup aims to build a computer aided design suite for molecules and operates in a growing industry where AI-driven drug development accelerates progress.
- Chai's models are improving at a rapid pace, solving five-year problems in weeks, while CEO Josh Meier leads the company after roles at Facebook and OpenAI.
- Capital from the round will support commercialization and research efforts while advancing foundation models tuned for drug discovery to help cure many diseases.
- Venture data show AI-powered health tech funding has reached $10.7 billion this year, a more than 24 percent increase, with competition including Isomorphic Labs and prominent tech leaders.
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TechCrunch
OpenAI-backed biotech firm Chai Discovery raises $130M Series B at $1.3B valuation
Chai is building foundation models for drug discovery, specifically to predict interactions between molecules so they could be reprogramed for cures.
Chai Discovery raises $130M Series B at $1.3B valuation
Chai Discovery, a biotech startup backed by OpenAI, announced a $130 million Series B funding round at a $1.3 billion valuation on Monday. The round was led by General Catalyst and Oak HC/FT, the company confirmed in its statement. In addition, existing and new investors, including Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite Venture Fund, Lachy Groom, SV Angel, Glade Brook, and Emerson Collective, participated in the raise. …
AI medical research startup Chai Discovery raises $130M in funding
Chai Discovery Inc., a startup using artificial intelligence to accelerate drug development, today announced that it has closed a $130 million funding round led by Oak HC/FT and General Catalyst. The two investment firms were joined by more than a half dozen other backers. The consortium included OpenAI Group PBC and Thrive Capital, one of […] The post AI medical research startup Chai Discovery raises $130M in funding appeared first on SiliconAN…
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