OpenAI-backed biotech firm Chai Discovery raises $130M Series B at $1.3B valuation

The round was led by General Catalyst and Oak HC/FT, the company said. Other participants include Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite venture fund, Lachy Groom, SV Angel, and new investors Glade Brook and Emerson Collective. The firm’s total funding now stands at over $225 million.

“Our latest models can design molecules that have properties we’d want from actual drugs, and tackle challenging targets that have been out of reach,” Josh Meier, Chai’s co-founder and CEO said in a prepared statement.