Causala tech company that uses AI to interpret large datasets and literature announced it has closed a $60 million Series B round led by ICONIQ Growth.
Marathon Venture Capital, Index Ventures, Pentech Ventures, EBRD and Visionaries Club also attended the round, as did former Johnson & Johnson Chairman and CEO Alex Gorsky and Datadog CEO and co-founder Olivier Pomel.
WHAT IT DOES
Causaly offers life science researchers a generative AI platform for drug discovery and development.
The London-based company will use the funds to scale its product and expand business relationships.
“Our latest funding round is a significant milestone for Causally. This capital allows us to strengthen long-standing customer relationships and invest in our technology to turn scientific data into invaluable insights. By harnessing the power of AI and our platform, we will drive transformation.” Advances in therapeutic innovation that accelerate the journey from lab to bedside.
“This funding reinforces our mission to make knowledge more accessible and impactful as we expand our infrastructure, scale operations and expand globally,” said Yiannis Kiachopoulos, co-founder and CEO of Causaly Mobile Health News in an email.
MARKET SNAPSHOT
Causally secured $4.8 million in Series A funding in 2019 and $17 million in 2021 to grow his team and expand his reach.
in 2020, The company announced it will be supporting London’s Global University (UCL) with COVID-19 research, including helping to develop and deploy affordable respiratory devices, testing antiviral candidates and rapidly sequencing the disease.
Another company working on drug discovery using AI is based in Israel AION Labs, a government tendered company that includes pharmaceutical giants AstraZeneca, Merck, Pfizer and Teva, as well as venture capital firm Israel Biotech Fund, strategic partner Amazon Web Services and German independent research institute Bio Med X.
In February, AION announced the launch of its second startup: DenovAI will develop an AI-powered computational biophysics platform that can discover potential antibodies directed against specific epitopes (the part of an antigen molecule that is recognized by the immune system and to which an antibody binds). The company said the platform will develop antibodies from scratch and then suggest which candidates are likely to make effective drugs.
