Table 2 Some of venture financing events in past 10 years
Startup Name | Funding Amount ($) | Primary Funding Sources | Date | Key Details | Reference Link |
|---|---|---|---|---|---|
Xaira Therapeutics | 1 Billion | Foresite Capital, ARCH Venture Partners, Two Sigma Ventures, Lightspeed Ventures, Sequoia Capital, and Lux Capital (among others) | April 2024 | Xaira Therapeutics leverages advanced machine learning to speed up pharmaceutical development, improving the efficiency of identifying potential treatments. This funding milestone underscores the growing investment in AI-driven healthcare, particularly in biotech, where AI is transforming pharmaceutical research | |
Tempus AI | 447.89 Million | Public market funding through Nasdaq, 50/50 capital contribution (30 billion yen or ~$187 M) between Tempus AI and SoftBank | June 2024 | Tempus AI raised $447 M in its IPO, valuing it at $6.1B, and partnered with SoftBank in a $187 M joint venture to launch AI-enabled precision medicine in Japan. Its 2024 revenue is projected at $700 M | https://www.reuters.com/markets/deals/tempus-ai-shares-jump-8-nasdaq-debut-2024-06-14/ |
Zymergen | 406.50 Million | Cota Capital, DCVC, Goldman Sachs Group, Two Sigma Ventures (among others) | December 2018 | In 2018, Zymergen secured over $400 million in Series C funding, led by the SoftBank Vision Fund, to further develop its AI-enabled molecular manufacturing technology Raised $500 million IPO in April 2021; Was acquired by Ginkgo Bioworks in July 2022 for $300 million in all-stock deal; In October 2023, filed for Chapter 11 Bankruptcy | |
Insitro | 400 Million | ADS Ventures, CPP Funding, Andreessen Horowitz, ARCH Venture Partners, BlackRock (among others) | April 2021 | a biotechnology company specializing in AI-driven drug discovery, has secured significant funding to advance its mission to enhance Insitro’s machine learning-powered drug discovery efforts | |
XtalPi Technology | 319 Million | SoftBank Vision Fund, PICC Capital, and Morningside Venture Capital | September 2020 | To enhance XtalPi’s AI-powered drug discovery platform and expand its capabilities in pharmaceutical research and development | |
380 Million | OrbiMed and RRJ, 5Y Capital, 6 Dimensions Capital, Aqua Fund, China Renaissance, Decent Capital (among others) | August 2021 | To accelerate the integration of AI and automation in drug discovery processes and to expand strategic partnerships within the pharmaceutical industry | https://aibusiness.com/verticals/ai-powered-drug-discovery-startup-xtalpi-closes-400m-series-d-round | |
115 Million | Hong Kong Stock Exchange | June 2024 | To further develop AI-driven drug R&D services and expand global operations | https://endpts.com/xtalpi-raises-115m-from-hong-kong-ipo-to-expand-ai-drug-rd-services/ | |
Valo | 330 Million | Atnium Investment, E Squared Capital Management, Flagship Pioneering, HBM Partners (among others) | Jan-Mar 2021 | To scale Valo’s Opal Computational Platform™, an AI-driven platform designed to accelerate drug discovery and development | |
InSilico Medicine | 255 Million | Baidu Ventures, B Capital China, Bold Capital Partners, Caspain Private Equity (among others) Warburg Pincus, Sequoia Capital, OrbiMed, Mirae Asset Financial Group, and over 25 biotechnology, AI, and pharmaceutical investors | June 2020 | Secure Funding C to advance Insilico Medicine’s pipeline and accelerate the development of AI-powered drug discovery platforms, aiming to reduce the time and cost associated with bringing new drugs to market | |
Recursion Pharmaceuticals | 239 Million | Bayer, Leaps by Bayer, Advantage Capital, Air Street Capital, Baillie Gifford (among others) | September 2020 | To advance Recursion’s technology-enabled drug discovery platform and pipeline | |
Exscientia | 225 Million | Soft Bank, Vision Fund 2, Air Street Capital, Blackrock Innovation Capital Group, Bristol-Myers Squibb, Farallon Capital Management (among others) | April 2021 | Exscientia leverages AI throughout its platform, from target identification and drug design to patient selection, enabling the precision engineering of new medicines. The company has advanced its first two fully AI-designed drugs into clinical trials and currently has over 20 active programs in its pipeline. The funding from the Series D round will support the progression of Exscientia’s proprietary pipeline through clinical testing and further expansion of its technology platform toward autonomous drug design | |
Genesis Therapeutics | 224 Million | Alumni Ventures, Andreessen Horowitz, BlackRock (among others) | August 2023 | To advance Genesis’ existing wholly owned pipeline of AI-enabled programs into clinical development |
