Aramco's Prosperity7 Leads $35M Investment in AI Drug Discovery Firm Insilico
Insilico raises $35 million to bring its Series D total to $95 million, leveraging AI for drug discovery and sustainable chemistry. The funding round is led by Aramco's venture arm, Prosperity7.
Hong Kong-based Insilico raises $35 million in an oversubscribed funding round led by Prosperity7, the venture capital arm of Saudi Aramco. This new capital infusion brings the company's total Series D funding to $95 million. Although the biotech industry currently experiences a so-called "biotech winter," the firm successfully secures financial backing without disclosing its latest valuation.
The strategic partnership with Prosperity7 opens new avenues for Insilico beyond traditional medicine. The company uses machine learning to identify drug targets and design new pharmaceuticals, and now it applies this same technology to sustainable chemistry. This emerging field focuses on creating environmentally benign chemical products, which aligns perfectly with Aramco's ongoing sustainability efforts.
Insilico strategically operates across Hong Kong, Shanghai, and New York to maximize its efficiency in the AI drug discovery space. The founder compares this global approach to the early semiconductor industry, utilizing China's robust contract research organizations for production while keeping research stateside. Additional investors in this round include BHR Partners, Warburg Pincus, B Capital Group, and the company's CEO Alex Zhavoronkov.