Chemical.AI, a Shanghai, China-based R&D AI technology company leveraging machine learning and big data to transform research and development in chemistry, announced that it completed nearly $14 million (100 million RMB) in Series B funding.
The round was led by Changjiang Securities Innovation and followed by Peakvest.
This funding will be used to drive the development of Chemical.AI’s ChemFamily products, including ChemAIRS, ChemAIOS, ChemAIoT, and ChemAILab, based on its proprietary retrosynthesis algorithm as a standard digitalized closed data loop to enhance chemical synthesis efficiency.
Chemical.AI’s services facilitate chemists’ research work to be more efficient and effective in cost/time management and to speed up the drug discovery process.
Dr. Ning Xia, Founder & CEO of Chemical.AI, concluded, “AI and automation play more and more important roles in the chemistry field. As a company specializing in those fields, Chemical.AI continues to enhance algorithms, integrating data and automation to build an intelligent chemical synthesis platform to facilitate pharmaceutical and chemical materials industries. This round of funding will be utilized to improve ongoing development and expand to global markets. Together with our investors, the new era of intelligent chemistry is coming soon.”
Company: Wuhan Zhihua Technology Co., Ltd
Raised: $14.0M
Round: Series B
Funding Month: November 2022
Lead Investors: Changjiang Securities Innovation
Additional Investors: Peakvest
Company Website: https://www.chemical.ai/
Software Category: AI Chemical Retrosynthesis
About the Company: Chemical.AI is an AI-empowered retrosynthesis technology company that leverages artificial intelligence technology and big data to develop tools that can greatly improve the efficiency of R&D research work. It is committed to building an intelligent synthesis management platform to deliver compounds and shape the future of chemistry. In 2021, Chemical.AI has established an automated synthesis laboratory (ChemAILab) in Shanghai to provide more professional and efficient chemical synthesis services with AI, IoT-enhanced tools together with robotics to enhance synthesis efficiency to 1.5 – 2 times. With AI and cheminformatics, Chemicial.AI provides technical services to pharmaceutical companies, CROs, and academic and scientific research institutions for synthesis planning.
Source: https://www.eurekalert.org/news-releases/970273