StoneWise Closes Series B and B+ Funding for a Total of $100 Million

(VCBeat) Apr. 12, 2021 -- Beijing StoneWise Technology Co., Ltd. ("StoneWise"), a technology company that drives the development of innovative drugs with AI, has today closed the Series B and Series B+ funding round for a total of $100 million. The extended Series B round was jointly led by Greater Bay Area Homeland Investments and Lightspeed China Partners. The Series B financing was led by Legend Capital. The new investors include CDH VGC and Eastern bell Capital that join the existing group of GL Ventures, SIG Asia, Long Hill Capital, and Linear Capital. the investors from Series A and A+ with StoneWise all involved in the latest round, in which GL Ventures has oversubscribed. Leap Capital acted as the exclusive financial advisor for this financing.

The funding will be used to recruit top talents around the world, consolidate the industrialization achievements of StoneWise, accelerate the development of AI innovation and improve the efficiency of its products.

StoneWise, founded in 2018, is a technology company committed to accelerating novel drug discovery with artificial intelligence. The company intends to use AI technology and innovation to lead a paradigm shift in drug discovery for the pharmaceutical industry. StoneWise aims to replace the previous single-engine drug R&focusing on experts based model with the new twin-engine drug R&D model with advanced AI technology and expert system.

StoneWise's platform is designed by cutting-edge technologies such as artificial intelligence and microfluidics, integrated with computational chemistry, computational biology, pharmacology and clinical medicine. The platform provides pharmaceutical companies with integrated solutions to enhance the efficiency and success rate of early-stage drug discovery, including a vast range of tools such as medical knowledge graphs, the discovery of privileged scaffolds, molecular generation and design, as well as predicting reaction products and planning path synthesis.

The molecule design software of StoneWise has realized AI-based human-machine interaction in large pharmaceutical enterprises and research institutions to improve the efficiency of R&D. At present, it has been applied by many top scientific research institutions and pharmaceutical companies. This is the first commercialized AI-powered molecule design software of drugs in China.

Greater Bay Area Homeland Investments is jointly established by international industrial institutions, financial institutions and enterprises. It has managed the Greater Bay Area Common Homeland Development Fund to seizing investment opportunities in the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the construction of the international science and technology innovation center, focusing on scientific and technological innovation, industrial upgrading, better life, smart cities and other related fields.

Lightspeed China Partners is a leading Chinese venture capital firm focusing on early-stage investments. They are the Chinese partners to Lightspeed Venture Partners. Their expertise is in mobile, Internet, technology-enabled services, and enterprise solution companies. The company currently manages three USD funds and one RMB fund.