InstaDeep Raises $100M to Scale Decision-Making AI Products
LONDON, Jan. 25, 2022 -- InstaDeep, a leader in advanced AI decision-making systems for solving real-world problems, announced today it has raised $100M 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.
“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,” said Karim Beguir, Co-Founder and CEO of InstaDeep. “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.”
AI x Vaccines and Variants
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.
Google and Deutsche Bahn AI Collaborations
InstaDeep collaborates with Google on AI initiatives and publishes joint research with DeepMind and Google AI. InstaDeep is also working on a moonshot product to automate railway scheduling with Deutsche Bahn, the largest rail operator and infrastructure owner in Europe.
InstaDeep, now based in London, began in 2014 in Tunis in North Africa, with two laptops, $2000 and, according to Beguir, “a lot of enthusiasm.” From the start, he and Co-Founder Zohra Slim have made boosting local AI communities central to InstaDeep’s mission, through events, training and open-sourcing software. InstaDeep is proud to have engineers and researchers in South Africa, Nigeria, Tunisia and the UAE alongside its teams in France and the UK.
Arnaud Barthelemy, Partner and COO, Alpha Intelligence Capital, commented on the news saying: “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.”
Founded in 2014, InstaDeep is a leader in decision-making AI systems, with headquarters in London, and offices in Paris, Tunis, Lagos, Dubai and Cape Town. InstaDeep has been named for two consecutive years to the CB Insights AI 100 ranking, which showcases the 100 most promising private artificial intelligence companies in the world. With expertise in both machine intelligence research and concrete business deployments, InstaDeep gives its partners a competitive advantage in an AI-first world. Leveraging its extensive know-how in GPU-accelerated computing, deep learning and reinforcement learning, InstaDeep products, such as its DeepChain protein design platform, tackle the most complex challenges across a range of industries. InstaDeep has also developed collaborations with global leaders in the AI ecosystem, such as Nvidia and Intel, and has published joint research with DeepMind. InstaDeep would like to acknowledge support from the law firm CMS during this fundraising round.