BioMap gains 100 million-dollar pool in series-A funding

On July 30, 2021, BioMap announced receipt of a recorded $100 million Series A funding, spearheaded by GGV Capital with participation from Baidu, Legend Capital, Lanchi Ventures, Verity Ventures, and Xiang He Capital. Company Founder Robin Li also invested further. This infusion is earmarked for tech R&D and talent acquisition.

Partner Chenyao Wu of GGV Capital expressed, "The combination of AI and life sciences presents key trend dynamics of the 21st Century. BioMap's use of AI for drug discovery underscores its potential prominence within life sciences." Believing in Liu Wei's team's ability to create an integrative capacity chain spanning discovery, combination mechanisms, pharmacokinetic attributes, screening, and production processes, Wu forecasts BioMap's potential as a global leader in biological computing and groundbreaking drug development.

Jiaqing Zhang, Chief Executive at Legend Capital, echoed similar sentiments stating, "Legend's dedication to intertwining IT and life sciences aligns with BioMap's alignment of AI with life science, fostering drug progression through the amalgamation of these domains. Long-term vision favours leveraging our shared investment strengths,close collaboration with companies in biomed, IVD testing, CRO, and BioMap, and providing IT support for healthcare, pushing industry evolution, and positively impacting patient treatment."

Partner Tianyu Zhu of Lanchi Ventures stated, "Our focus is unearthing new frontiers where AI can truly excel. The surge in biological datasets, coupled with superior bio-processing and multi-omics data technologies, hold the promise of revolutionizing life sciences. BioMap's bio-computing orientation makes us optimistic about bridging cutting-edge life science explorations, especially due to its technology backbone." He envisages BioMap taking a leading role in both Chinese and global life science innovations.

Founder Xuyang Ren of Verity Ventures added,"We are dedicated to co-creating impactful innovative opportunities. Technological breakthroughs in AI, high-performance computing, and life sciences birth a new era of drug development. Liu Wei's team demonstrates exemplary strategic acumen, advanced technological understanding, and solid execution skills – assets that position BioMap as a market leader. Confidently predicting this company's storyline into the future."