Total amount raised
$42 Millions
Latest funding date
08/01/2023
Location
Atomic AI has successfully raised funds through a Series A round, attracting the interest of 15 investors, including Modi Ventures and Nat Friedman. The company is pioneering the fusion of machine learning and structural biology to revolutionize RNA drug discovery.
Keep reading to explore the intricacies of Atomic AI's fundraising journey and the investors backing this innovative platform.
What Is Atomic AI?
Atomic AI, founded in May 2021 by Raphael Townshend, is a biotechnology company based in South San Francisco, California. The company operates in the medical industry and focuses on AI-driven RNA drug discovery with atomic precision.
With an employee count ranging from 11 to 50, Atomic AI leverages advanced machine learning and structural biology to develop RNA-targeted small molecules and RNA-based medicines. Their proprietary R&D platform integrates deep learning models with in-house wet-lab assays to create highly potent and selective RNA-targeted therapies.
How Much Funding Has Atomic AI Raised?
- Seed Round
- Amount Raised: $7M
- Date: January 2021
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The initial funding was likely used to develop the company's proprietary R&D platform and to support early-stage operations and research activities.
- Series A
- Amount Raised: $35M
- Date: January 2023
- Lead Investors: Playground Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds are intended to accelerate growth, expand operations, and extend the company's business reach.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2023
- Lead Investors: Modi Ventures, Nat Friedman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at advancing their machine learning and structural biology platforms for RNA drug discovery.
Total Amount Raised: $42M. Current Valuation: Not publicly disclosed.
Key Investors
- Playground Global
- Details: Playground Global is a venture capital firm that led the Series A funding round for Atomic AI. They focus on early-stage investments in technology and science-driven companies.
- Investment Focus Areas: Technology, science-driven companies, early-stage startups.
- Notable Investments: Relativity Space, Nervana Systems.
- 8VC
- Details: 8VC is a venture capital firm that participated in both the Series A and the previous seed round for Atomic AI. They invest in various sectors including biotechnology, healthcare, and technology.
- Investment Focus Areas: Biotechnology, healthcare, technology.
- Notable Investments: Palantir, Guardant Health.
- Factory HQ
- Details: Factory HQ is a venture capital firm involved in the Series A funding round for Atomic AI. They focus on early-stage investments in innovative companies.
- Investment Focus Areas: Innovative companies, early-stage startups.
- Notable Investments: Specific notable investments are not mentioned.
- Greylock
- Details: Greylock is a well-known venture capital firm that participated in both the Series A and the seed round for Atomic AI. They invest in consumer and enterprise software, as well as healthcare and biotechnology.
- Investment Focus Areas: Consumer software, enterprise software, healthcare, biotechnology.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- AME Cloud Ventures
- Details: AME Cloud Ventures is a venture capital firm that participated in both the Series A and the seed round for Atomic AI. They invest in seed to later-stage companies, particularly in technology and data-driven sectors.
- Investment Focus Areas: Technology, data-driven sectors, seed to later-stage companies.
- Notable Investments: DeepMap, Rigetti Computing.
What's Next for Atomic AI?
Atomic AI stands at the cusp of significant growth, driven by its innovative approach to RNA drug discovery. The company is poised to leverage its proprietary AI-driven 3D RNA structure engine to generate RNA structural datasets, which could revolutionize the development of RNA-targeted molecules and RNA-based medicines. This opportunity is vast, given the increasing integration of machine learning and structural biology in drug discovery.
Future fundraising opportunities seem promising, as the successful Series A round and previous seed funding indicate strong investor confidence. As Atomic AI continues to expand its operations and business reach, additional funding rounds could further accelerate its growth and innovation.
However, the journey ahead is not without challenges. Technical difficulties in integrating machine learning with structural biology and competition from other biotechnology companies could pose significant hurdles. Additionally, navigating regulatory landscapes for new RNA-based medicines will require strategic planning and robust execution.
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