DP Technology, a Beijing-based start-up focused on AI-for-Science, has raised over 800 million yuan (US$114 million) in Series C financing. The capital will be used to expand research and development (R&D) and hire additional talent.
The company develops a suite of AI tools used by researchers for tasks ranging from drug design to battery development. The funding round drew backing from a mix of state-linked and venture investors, including Fortune Venture Capital and the Beijing Jingguorui Equity Investment Fund.
The Series C financing round for DP Technology has secured substantial capital to support its growth trajectory. The total amount raised stands at more than 800 million yuan, translating to approximately US$114 million. This financial milestone was officially announced by the start-up on a Wednesday.
Investors participating in this round represent a blend of state-linked and venture capital interests. The specific backers identified include:
DP Technology operates within the AI-for-Science (AI4S) sector, a niche focused on applying artificial intelligence to scientific discovery. The company is the developer of a comprehensive suite of AI tools designed to assist researchers in their work. These tools are versatile, supporting various scientific disciplines.
Specific applications for the company's technology span critical areas of modern research. This includes drug design, where AI can accelerate the discovery of new pharmaceuticals, and battery development, which is crucial for energy storage solutions. The company is based in Beijing, positioning it within a major hub for technology and innovation.
The newly acquired funds are earmarked for two primary strategic initiatives. The first is the expansion of research and development (R&D) activities. By investing further in R&D, DP Technology aims to enhance its existing AI tools and potentially develop new capabilities to stay competitive in the rapidly evolving tech landscape.
The second strategic priority is hiring talent. As the company scales its operations and R&D efforts, attracting skilled professionals will be essential. This focus on talent acquisition suggests plans for workforce expansion to drive innovation and operational growth.
