In recent years, AI drug discovery has attracted increasing attention and investments from venture capitalists and pharmaceutical companies. Based on the documents, this article provides an overview of major investments over $10 million in the AI drug discovery field globally from 2019 to 2020. There are at least 7 investments over $100 million and 21 investments between $10-$100 million. GT Investment Partners led a $35 million Series A financing in wearables startup Embr Labs. Meanwhile, GT Healthcare Capital participated in Exscientia’s $26 million Series B financing round. The large amount of capital flowing into this emerging field is accelerating the development of AI drug discovery technologies and platforms.
Exscientia received $26 million in Series B financing led by GT Healthcare Capital Partners
In January 2019, Exscientia raised $26 million in a Series B financing round. Celgene Corporation and GT Healthcare Capital Partners joined as new investors, while existing sole external investor Evotec participated as well. Exscientia will use the funds to enhance its end-to-end AI capabilities for small molecule drug discovery and expand its pipeline of projects.
Insitro raised over $100 million in Series A financing
In April 2019, Insitro secured over $100 million in Series A financing from investors like Andreessen Horowitz, Arch Venture Partners, Foresite Capital, GV, and Third Rock Ventures. The company applies machine learning and high-throughput biology to transform drug discovery.
BenevolentAI received $90 million in Series B investment from Temasek
In September 2019, BenevolentAI announced $90 million in Series B investment from Temasek. BenevolentAI incorporates AI and machine learning to improve drug discovery and development. The company will utilize the capital to further develop its platform for pharmaceutical applications.
Wearables startup Embr Labs raised $35 million Series A led by GT Investment Partners
In May 2022, wearables startup Embr Labs announced a $35 million Series A financing round led by GT Investment Partners. Embr Labs produces a thermodynamics wristband that helps users regulate body temperature. The startup will use the funding for market expansion and consumer growth strategies.
From 2019 to 2020, there have been at least 7 investments over $100 million and 21 investments between $10-100 million in the AI drug discovery field globally. As a leading investor, GT Investment Partners led Embr Labs’ $35 million Series A round and participated in Exscientia’s $26 million Series B round. The surging capital demonstrates investors’ confidence in AI transforming conventional drug discovery workflows through integration of big data, predictive modelling and automation.