China's DP Technology raises $97m
China’s DP Technology, touted as a pioneer in the use of artificial intelligence (AI) for scientific research, has raised a CNY 700m (USD 97m) round featuring Loyal Valley Capital.
Shanghai-based United Media FoFs, MSA Capital, Evergreen Scitech Delta, and several strategic investors also participated, according to a statement.
The fresh proceeds will be used to attract talent, strengthen algorithm innovation and industry solutions capabilities, and advance commercialization processes in industries such as biotech, new energy, chemical industry, and semiconductor.
DP raised an angel round in 2020 from Baidu Ventures and Peakview Capital. This was followed by two rounds in 2021 backed by Crystal Stream Capital, Vision Plus Capital, GL Ventures, and Matrix Partners China. Qiming Venture Partners and Source Code Capital invested in 2022, with re-ups coming from GL and Matrix, according to AVCJ Research.
Founded in 2018, DP combines AI and molecular simulation algorithms, with advanced computing methods to solve scientific problems. It aspires to create a new generation of micro-scale industrial design and simulation platform for biomedical, energy, materials, and information science research.
DP has developed simulation solutions for pharmaceutical development and battery manufacturing among other applications. The company claims that its battery development platform has been endorsed by leading manufacturer CATL.
The development of industrial research simulations is often a highly complex mathematical process. To this end, DP has collaborated with several domestic universities. It has also partnered with biopharmaceutical companies including Jiangsu-based Hansoh Pharmaceutical, Wuxi Biortus, and Hong Kong-listed Jacobio Pharma.
Lighthouse Capital acts as the exclusive financial advisor of the deal.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.