AI biotech startup XtalPi $15 million in Series B funding from Sequoia China, Google and Tencent
Artificial Intelligence (AI) biotech startup, XtalPi, announced today it has closed a Series B funding round of $15 million led by Sequoia China, with participation from Google and existing investor Tencent. XtalPi will use the funding to develop new computational models built on big data generated from XtalPi’s high-precision computing platform and to expand its business into adjacent areas along the pharmaceutical value chain. The capital will also be used to support the construction of a prediction-driven research lab that integrates XtalPi’s R&D platform with state-of-the-art wet-bench laboratory technologies. The hybrid computational-experimental facility will provide enhanced capabilities for the rational design of solid forms of drugs. To date, the computation-driven pharmaceutical technology company has raised over $20 million, making it one of the top-funded AI-powered biotechs.
“At XtalPi, we believe that algorithmic power is the key to finding smarter, more effective routes for drug research and development, and we are focused on building a computational engine that empowers and expedites pharmaceutical innovation for companies worldwide,” said XtalPi Co-founder and Chairman of the Board Dr. Shuhao Frank Wen. “The financing from Sequoia China, Google, and Tencent, who are among the top investors and innovators in AI and computer science, represents a strong endorsement of our vision and technology. We look forward to working closely with them as XtalPi continues to mature and succeed.”
Founded in 2014 by a group of quantum physicists at MIT, XtalPi has since grown into an elite team of researchers with multi-disciplinary expertise in physics, chemistry, drug development, and algorithm design. XtalPi has received much recognition for its cutting-edge technologies, its innovative solutions, and the breadth of potential applications of its offerings across the pharmaceutical value chain, which has allowed it to gain industry approval and establish strategic partnerships with several top international pharmaceutical companies.
XtalPi offers Intelligent Digital Drug Discovery and Development (ID4) that improves the efficiency, accuracy, and success rate of drug design, solid-form drug selection, and other critical aspects of preclinical drug development. In combining artificial intelligence, quantum physics, and high-performance cloud computing, XtalPi can quickly and accurately predict many important characteristics of small-molecule drugs and solid forms, thereby providing time-saving insights into the safety, stability, and efficacy of drug candidates. XtalPi’s existing investors also include ZhenFund and FreeS Fund. It currently partners with top global pharmaceutical companies and research organizations and looks forward to expanding industry collaborations with both existing and new partners.