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InstaDeep, a Tunisian artificial intelligence start-up, announces the successful completion of a $100 million Series B funding round led by Alpha Intelligence Capital and CDIB Capital International.
The funding round also included BioNTech, Chimera Abu Dhabi, DB Digital Ventures, Google, G42, and Synergie.
InstaDeep focuses on decision-making AI systems and plans to use the funds to acquire more top personnel and extend its worldwide presence into the United States.
“This funding round demonstrates our partners BioNTech, Google, and Deutsche Bahn’s confidence in us as a result of their collaboration on innovative, high-impact AI initiatives,” stated Karim Beguir, Co-Founder and CEO of InstaDeep.
With the help of DeepMind and Google Research, the two companies are also working together on an automated railway scheduling project that will use artificial intelligence.
Since launching a collaborative AI innovation center in 2020 to employ AI and machine learning approaches in immunotherapy development, InstaDeep and BioNTech have been important partners. An early warning system for high-risk SARS-CoV-2 variants was developed as a result of this collaboration.
When the sequence was released, the AI-driven system found Omicron and had already identified nearly all of the WHO-designated variations of concern two months ahead of schedule.
The new funding will enable the company to use AI technologies such as Reinforcement Learning, a sort of machine learning that aids in the development of successful optimization strategies for a variety of problems, including drug research, train operations, and more.
Read more on Tech Gist Africa:
Brimore, an Egyptian social commerce startup, has closed a $25 million Series A funding round
Bamboo, a Nigerian investing platform, has raised $15 million in Series A funding
Chari, a Moroccan B2B e-commerce business, has raised a bridge round valued at $100 million
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