Citrine Informatics, a Redwood City, CA-based materials data and artificial intelligence (AI) platform, received additional capital in the form of an $8m convertible note.
Tencent Holdings, a provider of Internet value-added services in China, and B&C Holdings, an Austria-based private-equity firm, participated.
The note will enable international expansion and hiring talent across data science, engineering and sales.
Led by Greg Mulholland, CEO and founder, Citrine Informatics combines access to a large materials dataset as well as a data platform and AI to accelerate the materials development cycle. The company’s technology has been used by large organizations, including chemicals and product companies.
It is also backed by investors including Innovation Endeavors, DCVC (Data Collective), Prelude Ventures, AME Cloud, XSeed Capital, Morado Ventures, and Ulu Ventures.