BenevolentAI, a London, UK-based AI pharmaceutical company, raised $115m in funding at a pre-money valuation of $2 billion.
The majority of investors are from the United States, with the balance of raised funds coming from existing investors, including Woodford Investment Management.
To date, the company has raised more than $200m of funding since 2013.
The company will use the funds to scale its drug development activities, broaden the disease areas on which it focuses, and extend its AI platform capabilities into other science-based industries such as advanced materials, agriculture, and energy storage.
Led by Ken Mulvany, Founder and Chairman, BenevolentAI is applying artificial intelligence to develop new medicines for hard to treat diseases. The company’s proprietary algorithms perform sophisticated reasoning on over 50 billion ingested and contextualised facts to extract knowledge and generate complex insights into the cause of diseases that have, until now, eluded human understanding.
Its AI technology is being used to develop treatments to unmet patients’ needs across a wide range of diseases, including Motor Neuron Disease, Parkinson’s Disease, Glioblastoma and Sarcopenia.
BenevolentAI is headquartered in London with offices in New York and Belgium, a research facility located in Babraham Science Park, Cambridge (UK), and in total currently employs 165 people.