Chai Discovery raises $400 million to advance AI-designed drug discovery
US AI drug discovery firm Chai Discovery has raised $400 million in Series C financing, valuing the San Francisco-based company at $3.8 billion as it looks to expand use of its molecular design platform across the pharma industry.
The round was led by Index Ventures, alongside Kleiner Perkins, Sequoia Capital and Dimension. New investors included Bain Capital Ventures, Battery Ventures, Baillie Gifford, BDT & MSD, Sapphire Ventures and Avra Capital, while existing backers including Thrive Capital, OpenAI, Oak HC/FT, Menlo Ventures and General Catalyst also participated.
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