SoftBank, Morningside help put US-China AI player on the map with $318M bet
Before Tencent made its first foray into AI-aided drug discovery this July, the Chinese tech giant had bought itself a line into the burgeoning field.
Tencent had backed a US-China AI startup by the name of XtalPi late 2015, and kept following up through two $15 million and $46 million rounds through 2018. Now SoftBank, Morningside and the venture arm of a Chinese government-owned insurance group are all following its lead, headlining a Series C that brings in a whopping $318.8 million.
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