AI

EvolutionaryScale, Supported by Amazon and Nvidia, Raises $142M for Protein-Generating AI

25 June 2024

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Paikan Begzad

Summary

Startup EvolutionaryScale has successfully raised $142 million in funding to advance its AI models for generating novel proteins, crucial for scientific research. The funding round, led by ex-GitHub CEO Nat Friedman, Daniel Gross, and Lux Capital, also saw significant contributions from Amazon and Nvidia's corporate venture arm, NVentures. EvolutionaryScale's latest AI model, ESM3, aims to revolutionize biology by creating proteins for drug discovery and materials science.

Co-founder and chief scientist Alexander Rives highlighted that ESM3 represents a new frontier in using AI for biological engineering. The team, which began its work at Meta’s AI research lab, continues to explore how generative AI can reveal disease mechanisms and create new therapeutic classes.

ESM3, trained on a dataset of 2.78 billion proteins, can analyze and generate new protein structures. EvolutionaryScale is offering the model for non-commercial use through its cloud Forge platform and a smaller version for offline use. The startup plans to monetize through partnerships, usage fees, and revenue sharing, particularly with pharmaceutical companies.

EvolutionaryScale's innovative approach could take a decade to fully mature, but with strong backing and ambitious goals, the company is poised to make significant strides in biotech applications.