Biotech Startup Chai Discovery Raises $130 Million in Series B Funding
Chai Discovery, an innovative biotech company supported by OpenAI, has successfully secured $130 million in a Series B funding round, achieving a significant valuation of $1.3 billion. This fundraising effort, announced on Monday, was spearheaded by prominent investors General Catalyst and Oak HC/FT, with participation from additional investors such as Menlo Ventures, Dimension, Thrive Capital, Neo, and others including Glade Brook and Emerson Collective. With this latest investment, Chai Discovery’s total funding has reached over $225 million.
As the biotech sector increasingly embraces artificial intelligence to expedite drug development, Chai Discovery stands out for its focus on creating foundational models specifically designed for drug discovery. In August, the company raised $70 million in a Series A round led by Menlo Ventures, who highlighted Chai’s capability to predict biochemical interactions, paving the way for innovative treatments.
Chai Discovery aims to develop a comprehensive “computer-aided design suite” for molecular creation. The startup previously introduced its Chai 1 AI model and has now launched Chai 2, which reportedly enhances success rates in de novo antibody design—a process that involves constructing custom antibodies entirely from scratch rather than modifying existing ones.
According to Josh Meier, co-founder and CEO of Chai Discovery, “Our latest models can design molecules that possess the desired properties of actual drugs and address challenging targets that have historically eluded researchers.” With a rich background in machine learning and prior roles at Facebook and OpenAI, Meier has steered the company since its inception in 2024.
Key Highlights:
– $130 million secured in Series B funding at a $1.3 billion valuation.
– Total funding now exceeds $225 million.
– Focus on AI-driven drug discovery solutions aimed at improving biochemical interactions.
– Launch of Chai 2 marks a significant advancement in antibody design capabilities.
