AI platform for drug discovery and biomedical research Causaly has raised $60 million in funding

London-based startup Causaly, which has created an artificial intelligence platform to help researchers accelerate drug development and testing, has raised $60m in Series B funding.

Here's What We Know

The funding round was led by ICONIQ Growth fund. The startup plans to use the received funds for further research and team development.

Causaly was founded in 2018. As of today, the company is already working with 12 of the world's largest pharmaceutical companies and major specialists in medical research.

These organisations use Causaly's cloud platform of various stages of drug development. CEO Yiannis Kiachopoulos estimates that their solutions can help reduce the drug invention process from 10-15 years to a few years.

The platform also enables faster modelling and calculations based on different chemical permutations and their action under different conditions. This can reduce the number of false starts and dead ends that characterise the drug discovery process.

The company itself is not in the business of finding cures. It provides tools to those who do, which also differentiates Causaly from other startups in the field.

Source: TechCrunch