Pharmaceutical firm Novo led the $11.4m first close of a series A round for US-based advanced chemicals and materials developer Kebotix yesterday.
The company did not disclose the identities of the other participants in the round, which has a $15m target for its close according to a regulatory filing.
Founded in 2017, Kebotix is developing new molecules and materials for medical and industrial projects using an artificial intelligence-powered laboratory.
The series A funding will strengthen the company’s operational capacity, helping to generate chemical and material-based assets for objectives such as supplanting hazardous substances.
Kebotix disclosed a $5m seed round in late 2018 that was led by One Way Ventures and backed by Baidu Ventures, a subsidiary of internet group Baidu, as well as Flybridge Capital Partners, Embark Ventures, Propagator Ventures and WorldQuant Ventures.
The original version of this article appeared on our sister site, Global University Venturing.