Series A

Chai Discovery has raised $70M in additional funding in a Series A financing round. The fundraise was led by Menlo Ventures, including investment from their Anthology Fund, a joint partnership with Anthropic to identify and back promising AI companies, with participation from new investors Yosemite, DST Global Partners, SV Angel, Avenir, DCVC, and others. It also included existing investors Thrive Capital, OpenAI, Dimension, Neo, Lachy Groom, and Fred Ehrsam, among others.

Mikael Dolsten M.D., PhD., the former Pfizer Chief Scientific Officer responsible for advancing 150 molecules into clinical trials and delivering 36 approved medicines, is joining the company’s board of directors.

Last month, our team unveiled a further leap in AI-driven drug discovery with their Chai‑2 breakthrough, delivering fully de novo antibody design with a near-20% hit rate. By contrast, traditional lab based methods often have to screen millions to billions of antibodies to find hits, and the previous state of the art for computational methods was only 0.1%.

The funding will be used to further develop the Chai platform, applying it toward previously inaccessible targets, and onboarding select partners.

Read more here.