OpenAI-backed biotech startup Chai Discovery has raised $130 million in a Series B funding round, pushing its valuation to $1.3 billion.
Chai Discovery Accelerates AI-Driven Drug Design
In an announcement on Monday, the round was led by General Catalyst and Oak HC/FT, with participation from Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite Venture Fund, Lachy Groom, SV Angel and newcomers Glade Brook and Emerson Collective.
With the Series B funding, Chai's total capital raised exceeds $225 million. The company announced that Annie Lamont of Oak HC/FT and Hemant Taneja of General Catalyst will join its board of directors.
Earlier this year, Menlo Ventures led a $70 million Series A round.
AI Models Driving Rapid Progress
Founded in 2024, Chai Discovery develops advanced AI models, including its latest Chai 2, to predict molecular interactions and design custom antibodies from scratch—a process known as de novo antibody design.
CEO Josh Meier, a former OpenAI and Facebook engineer, highlighted the speed of progress, saying, "We’re in awe of the rate of progress on the models – what looked like five-year problems just months ago are now getting solved in weeks."
Chai's platform aims to act as a "computer-aided design suite" for molecules, enabling scientists to engineer molecules with properties suitable for drugs and to target diseases previously considered out of reach.
The company plans to use the funds to speed up research and product development while also expanding commercialization efforts.
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