Variational AI, developer of state-of-the-art generative AI technology to redefine the economics of drug development by accelerating the discovery of novel and optimized small molecules, announced that it has raised $3.5 million ($CDN4.3 million) in seed funding.
The investment round was led by Flying Fish Ventures, Alliance of Angels, and A&E Investments, with participation from Lip-Bu Tan and Amarjit Gill, Silicon Valley entrepreneurs, investors, and advisors.
The seed funding will enable Variational AI to accelerate existing discovery programs for COVID-19, cancer, and other disease areas. The company will also utilize the new capital to hire additional leaders in medicinal chemistry, cheminformatics, and machine learning, and recruit a Scientific Advisory Board.
Company: Variational AI Inc.
Raised: $3.5M
Round: Seed Round
Funding Month: November 2021
Lead Investors: Flying Fish Ventures, Alliance of Angels, and A&E Investments
Additional Investors: Lip-Bu Tan and Amarjit Gill, Silicon Valley entrepreneurs, investors, and advisors
Company Website: https://variational.ai/
Software Category: State-of-the-Art AI Platform
About the Company: Founded in September 2019, Variational AI is a team of experienced AI/machine learning and business specialists applying state-of-the-art generative AI to drug discovery in close collaboration with biopharmaceutical partners to bring new therapeutics to market across disease areas and positively impact lives. Variational AI uses state-of-the-art machine learning in a data-efficient method to rapidly generate novel and diverse compounds that are optimized for multiple properties to avoid the most common causes of drug attrition and increase the clinical probability of success. Variational AI works with leading biopharmaceutical partners and is developing its internal pipeline.
Source: https://newsdirect.com/news/variational-ai-secures-us3-5-million-in-seed-funding-to-apply-state-of-the-art-ai-platform-to-generate-novel-small-molecule-therapeutics-for-drug-development-621999253