London-based InstaDeep raises $100m to scale decision-making AI products to solve real-world problems

London-based InstaDeep raises $100m to scale decision-making AI products to solve real-world problems

Published: 26-01-2022 10:53:00 | By: Pie Kamau | hits: 5218 | Tags:

InstaDeep, a leader in advanced AI decision-making systems for solving real-world problems, announced it has raised $100 million and closed a Series B round led by Alpha Intelligence Capital together with CDIB. Investors in the round include BioNTech, Chimera Abu Dhabi, Deutsche Bahn’s DB Digital Ventures, Google, G42 and Synergie.

InstaDeep will use the funding to advance its high-performance computing infrastructure optimized for Decision-Making AI, continue to hire elite talent and accelerate the launch of disruptive AI products across multiple industries – including biotech, logistics, transportation and electronics manufacturing. The firm will expand its global presence into the United States.

A vast majority (81%) of executives say AI will either be critically important or very important to their business in 2022, according to CNBC’s latest Technology Executive Council survey. African-founded InstaDeep helps companies improve crucial parts of their operations by harnessing AI technologies such as Reinforcement Learning, a type of machine learning that helps design effective optimization strategies for an array of challenges, from therapeutics development to railway operations and more.

Karim Beguir, Co-founder and CEO, InstaDeep: “This funding round is a tremendous vote of confidence from our partners BioNTech, Google and Deutsche Bahn after working closely with us on innovative, high-impact AI initiatives. And we are very excited to get the support of Alpha Intelligence Capital, Chimera, Synergie and Group42 as we see wide-ranging opportunities to deploy our AI products to tackle complex real-world problems.”

InstaDeep and BioNTech formed a multi-year strategic collaboration in 2020 to launch a joint AI innovation lab to deploy the latest advances in Artificial Intelligence and machine learning to develop novel immunotherapies. As part of this collaboration, the two companies created an AI-powered Early Warning System (EWS) for detecting high-risk SARS-CoV-2 variants. The EWS identified more than 90% of World Health Organization designated variants on average two months ahead of time. It detected Omicron on the day its sequence became available among more than 70,000 novel variants discovered in October and November 2021.

Arnaud Barthelemy, Partner and COO, Alpha Intelligence Capital: “As the first global fund fully dedicated to artificial intelligence and machine learning, we are particularly proud to have led this Series B round, together with first class co-investors. InstaDeep is a deep technology company that disrupts traditional approaches in crucial areas as they do with BioNTech for drug discovery or with Deutsche Bahn for railway scheduling. We are thrilled to join this exciting adventure and eager to help support InstaDeep’s growth through our unique AI expertise.”