AI Biotech XtalPi Closes Series B Round Funding from Sequoia China, Google, and Tencent
Summary
"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.Neil Shen, Founding and Managing Partner of Sequoia China said: "XtalPi offers a unique solution to the highly empirical and challenging nature of the drug discovery and development process."We have confidence in the future development of AI-powered drug R&D and think highly of the teams innovative and executive abilities as we continue to invest and take part in XtalPis acceleration and growth."Through its tightly interwoven quantum physics, artificial intelligence, and high-performance cloud computing algorithms, the ID4 platform enables pharmaceutical companies to increase their efficiency, accuracy, and success rate at critical stages of drug R&D.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, pharmaceutical R&D, and algorithm design.