AI-Based Drug Research Platform XtalPi Closes Series C at USD 318.8 Mn
XtalPi, an AI-driven digital startup for drug research, announced the close of Series C of USD 318.8 million, setting the highest financing record in the AI-based drug research worldwide.
The investment was co-led by Softbank, PICC Capital Investment Management Company and Morningside Venture Capital. Participant companies include CICC Capital, CMB International's Telecommunications Fund, Mirae Asset, China Stock, Citic Capital, Oceanpine Capital, Shunwei Capital, Fangyuan Capital, IMO Ventures, Parkway Fund. Some previous equity investors, such as Tencent, Sequoia China and SIG Asia, continue joining.
The 2020 MIT Technology Review ranks the 'AI-based discovery for molecules' into the Global Ten Breakthrough Technologies. The combination of artificial technology and drug manufacturing is expected to create an industry at multi-tens billion scales.
The fundraising marks the XtalPi as one of the most influential companies in AI-pharmaceutical worldwide.