Tunisian artificial intelligence startup, InstaDeep secures $100 million in Series B funding
InstaDeep, a Tunisian artificial intelligence startup, has closed a $100 million Series B funding round led by Alpha Intelligence Capital and CDIB Capital International.
BioNTech, Chimera Abu Dhabi, DB Digital Ventures, Google, G42, and Synergie also participated in the funding round.
InstaDeep specializes in decision-making AI systems and intends to use the funds to hire more top talent and expand its global presence into the United States.
“This funding round demonstrates our partners’ trust in us as a result of their collaboration on innovative, high-impact AI initiatives,” said Karim Beguir, Co-Founder and CEO of InstaDeep.
The two companies are also collaborating on an automated railway scheduling project that will use artificial intelligence with the help of DeepMind and Google Research.
InstaDeep and BioNTech have been key partners since the establishment of a collaborative AI innovation center in 2020 to use AI and machine learning approaches in immunotherapy development. As a result of this collaboration, an early warning system for high-risk SARS-CoV-2 variants was developed.
When the sequence was released, the AI-driven system discovered Omicron and had already identified nearly all of the WHO-designated variants of concern two months before the deadline.
The new funding will allow the company to use AI technologies such as Reinforcement Learning, a type of machine learning that aids in the development of successful optimization strategies for a variety of problems such as drug research and train operations, among others.
