London-based AI firm InstaDeep has today announced $100m funding injection which it will use to fuel a global expansion and ramp up development of its “real-world” decision making technology.
The Series B round was led by Alpha Intelligence Capital alongside existing investor BioNTech and firms including Google, Synergie and Deutsche Bahn’s DB Digital Ventures.
InstaDeep says it will now leverage the capital to expand further into the US as well as roll out a number of new AI technologies for use across industries including biotech, logistics, transportation and electronics manufacturing.
Karim Beguir, Co-Founder and CEO of InstaDeep, said: “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.
“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.”
InstaDeep has previously launched a joint AI innovation lab with German biotech firm BioNtech, best known for its development of the groundbreaking mRNA covid vaccine.
The two companies created an AI-powered Early Warning System (EWS) for detecting high-risk SARS-CoV-2 variants.
Antoine Blondeau, co-founder and managing partner of Alpha Intelligence Capital said :“By placing deep artificial intelligence at the core of its product offering, particularly in the healthcare sector, InstaDeep is able to address highly complex challenges.
“We are excited to bring our extensive AI expertise and our knowledge of AI-powered businesses to support the company’s continued execution and scaling.”
The EWS identified more than 90% of World Health Organization designated variants on average two months ahead of time.
InstaDeep, now based in London, began in 2014 in Tunis in North Africa, with two laptops, $2000 and “a lot of enthusiasm”, Beguir said.