OpenAI-backed biotech firm Chai Discovery raises $130M Series B at $1.3B valuation | TechCrunch

"Chai Discovery, a biotech startup with backing from OpenAI, announced an $130 million Series B round at a $1.3 billion valuation on Monday. The round was led by General Catalyst and Oak HC/FT, the company said. Other participants include Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite venture fund, Lachy Groom, SV Angel, and new investors Glade Brook and Emerson Collective. The firm's total funding now stands at over $225 million."

"Chai says that its ambition is to "build the "computer aided design suite" for molecules." Last year, the startup announced the Chai 1 AI model and is now offering Chai 2, it's latest model. The company says Chai 2 is achieving significant improvements in success rates over other methods for de novo antibody design, meaning building custom antibodies from scratch, not modifying existing ones."

Chai Discovery raised $130 million in a Series B at a $1.3 billion valuation, increasing total funding to over $225 million. The round was led by General Catalyst and Oak HC/FT with participation from Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite venture fund, Lachy Groom, SV Angel, Glade Brook, and Emerson Collective. The company focuses on AI-driven drug discovery and foundation models tuned to predict biochemical interactions. Chai aims to "build the "computer aided design suite" for molecules," has released Chai 1 and Chai 2, and reports Chai 2 improves success rates for de novo antibody design. Co-founder Josh Meier has machine learning experience at Facebook and OpenAI.

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