Chemical.AI Extends Series A Financing by Additional $15 Million

(VCBeat) Aug. 08, 2021 -- Wuhan Zhihua Technology Co., Ltd. ("Chemical.AI") recently announced that it has completed an extended Series A round of nearly 15 million US dollars, led by Source Code Capital, with participation from Sequoia Capital China, FREES FUND and Huafang Capital. Proceeds from the transaction are mainly used for the construction and improvement of AI-based automated synthesis platform and marketing. Previously, the company received an angel round of investment from FREES FUND in 2019 and raised a Series A financing in 2021 led by Sequoia Capital China Seed Fund, with participation from Nest.Bio Ventures and FREES FUND.

Chemical.AI is a technology company driven by big data and AI, committed to using AI and big data in chemistry to solve the pre-clinical chemical synthesis problems of new drug R&D, in order to improve the efficiency of R&D for pharmaceutical companies. The founding team of Chemical.AI has been working in the field of chemical informatics for more than ten years and has rich experience in R&D. The company has accumulated a large number of professional data in chemical engineering. It is the pioneer in the field of chemical synthesis of new drugs based on AI in China.

Chemical.AI has explored in the field of chemical synthesis for many years and has made significant achievements in the phase of inverse synthesis. It promotes valuable data integration and reaction prediction with custom algorithms, and constantly improves the AI-based automated synthesis platform, thus assisting the work of R&D team. At present, Chemical.AI has established long-term cooperation with many large pharmaceutical companies and CRO giants around the world.

Since its inception in 2014, Source Code Capital has been committed to becoming the partner of choice for leading entrepreneurs in today's Information Revolution era with USD $ 1.5 billion and RMB 8.8 billion under management.

Source Code Capital invests across both early and growth stages. It is focused on the "Big 3" fundamental drivers, which are Internet+, AI+, and Global+ (China-angle companies in the international arena), and invest in sectors such as media and entertainment, consumer services, enterprise, finance, retail, transportation, housing, education, and healthcare.

Sequoia Capital China, as the "entrepreneur behind entrepreneur", focuses on investment in four directions including technology/media, healthcare, consumer goods/modern services and industrial technology. Over the past 15 years, Sequoia Capital China has invested in nearly 600 enterprises with distinctive technical characteristics, innovative business models, and high growth and development potential.