SandboxAQ, a company focused on quantum technology and artificial intelligence (AI), has successfully raised more than $300m in funding, achieving a pre-money valuation of $5.3bn.
This funding round included contributions from Breyer Capital, Fred Alger Management, Mumtalakat, Parkway Venture Capital, Rizvi Traverse and T Rowe Price Associates.
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Ava Investments, David Siegel, Eric Schmidt, IQT,S32, Marc Benioff, the US Innovative Technology Fund, Yann LeCun and other investors also participated.
The Alphabet spin-off aims to utilise the funds to accelerate the development of its Large Quantitative Models (LQMs) and other AI applications.
These applications span various fields, including drug discovery, materials science, chemistry, cybersecurity, navigation, and medical devices.
SandboxAQ CEO Jack D Hidary said: “Large Quantitative Models are the next wave of AI as they provide a powerful ability to solve science and business problems for large industries including aerospace, biopharma, chemicals, defence, energy, finance, and more.
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By GlobalData“The capital raise we are announcing today gives us additional resources to drive deep impact at scale. LLMs and LQMs are complementary platforms that are both needed in the world of B2B applications.”
Breyer Capital founder and CEO Jim Breyer said: “We see significant growth potential and opportunity for LQMs across a broad range of industries, which is why investing in SandboxAQ is an investment in AI’s future.”
The investment builds on SandboxAQ’s accomplishments across its divisions.
SandboxAQ said its AQBioSim division has made progress in accelerating new therapeutic approaches for neurodegenerative diseases.
In 2024, the division signed agreements with two academic research institutions to leverage its AI capabilities.
Additionally, SandboxAQ has expanded its collaboration with biopharma companies, using LQMs to identify new biomarkers and optimise clinical development for investigational medicines.
The AQChemSim division is said to have achieved advancements in material design, enhancing its capabilities with customers and partners.
Through collaboration with NVIDIA, SandboxAQ claims to have increased its computational chemistry capabilities by 80 times and doubled the size of molecules the platform can calculate.
SandboxAQ also launched its AQMed division, with the first product, CardiAQ, under development.
CardiAQ is a magnetocardiography investigational device designed to capture and analyse magnetic signals from the heart, potentially offering more precise and timely assessments.
