Chemify, a company specializing in digital chemistry, has secured $43 million in investment funding to further develop its technology solutions focused on artificial intelligence-driven digitalized chemistry, the company said on Monday.
The funding includes a Series A led by Triatomic Capital. Other investors include Horizon Ventures, Rocketship Ventures, Possible Ventures, Alix Ventures, Eos and the UK Government Innovation Accelerators program. Existing investor BlueYard Capital also participated in the round.
CEO Lee Cronin, formed the company in 2019 to digitize molecular discovery and development, using decades of research from his digital chemistry lab at the University of Glasgow in Scotland.
Cronin likens the company’s mission to “chemical space” exploration by developing technologies that can access and create trillions of potential combinations of natural elements. The company believes its technology can help reduce the amount of costly and time-consuming experimentation required to discover promising new molecules, speeding up their development as products in medicine, farming, materials science and green energy.
“It has long been our dream to digitize chemistry, and I’m delighted that through this funding, Chemify is building a company that can design, make and discover complex molecules on demand using digital blueprints faster, more efficiently and safely than is currently possible,” Cronin said. “Our mission is to deliver better molecules for pharmaceutical and industrial partners in a fraction of the time and cost currently required.”
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