InstaDeep, a London-based startup that provides companies with AI decision-making tools, has raised $ 100 million ($ 74 million) in a Series B funding round. The round was led by venture capital firm Alpha Intelligence Capital and private equity firm CDIB.
The company will use additional capital to evolve the computing infrastructure designed for high-performance decision-making applications. The company also expands its global presence by expanding its workforce and expanding its reach to the United States.
Other investors supporting InstaDeep in the currently ending Series B round include BioNTech, Chimera Abu Dhabi, Deutsche Bahn’s DB Digital Ventures, Google, G42 and Synergie.
InstaDeep’s technology is used in multiple industries, including biotechnology, logistics, and electronics manufacturing. The startup said it will use its capital to accelerate product launches in these areas.
Karim Beguir, Co-Founder and CEO of InstaDeep, said: “We are very excited to have the support of AlphaIntelligenceCapital, Chimera, Synergie and Group42. We believe we have a wide range of opportunities to deploy AI products to tackle complex real-world issues.”
Headquartered in Rondo, InstaDeep was founded in 2014 by Beguir and co-founder Zohra Slim in North Africa.
The company’s AI tools are based on GPU-accelerated computing.It is currently offering Two services: Deep Chain and Deep PCB.
DeepChain provides an AI-accelerated protein design that can search protein sequences using a trained AI language model. This service can be used to discover new protein designs and validate them in molecular dynamics simulations. DeepPCB, on the other hand, is a cloud-native PCB design service that uses AI and is said to design complex boards within 24 hours.
In 2020, InstaDeep announced the development of a new computational method in collaboration with BioNTech. The new method is claimed to analyze sequence data available worldwide to predict high-risk SARS-CoV-2 variants. This is a kind of early warning system, which is based on AI-calculated antigenic escape and fitness indicators.
Arnover Thermy, Partner and COO of Alfine Intelligence Capital, said: “We are excited to take part in this exciting adventure and are eager to support InstaDeep’s growth through our unique AI expertise.”
Source link InstaDeep raises $ 100 million to drive enterprise AI decision making
