The UK government's Sovereign AI fund has thrown its weight behind Potential Sciences, a London-based firm developing artificial intelligence tools for pharmaceutical research. The fund is contributing both capital and computing resources to the company, which was established in November of the previous year.
Potential Sciences applies AI, machine learning and quantum chemistry modelling to enable scientists to predict molecular behaviour and interactions. The company's distinctive angle centres on an AI model grounded in the laws of physics rather than relying on historical experimental results. According to the startup, this approach could reduce the computational expense of chemical design by as much as a factor of 100.
The seed round, valued in the tens of millions of dollars, also drew participation from Twin Path Ventures, Odyssey, Portfolio Ventures, Blue Wire Capital, rule30, Nauta Capital and Lightfield Equity. Stripe's chief executive Patrick Collison joined as an angel investor, alongside other backers. The company has not revealed the precise funding amount or its current valuation.
Potential Sciences represents another strategic investment for the Sovereign AI fund, which exists to help the UK nurture, control and expand homegrown artificial intelligence companies. The fund's portfolio already includes semiconductor maker Olix and AI firms Ineffable Intelligence and Callosum.
The startup was founded by Hatem Helal, a physician and former executive at Graphcore, the chip company that SoftBank acquired.
I first met Hatem in Cambridge, and he immediately struck me as a formidable founder. He combines technical excellence with low ego and unapologetic ambition. He knows the science in extraordinary detail, but he's also deliberate about bringing in people who are exceptional in areas different from his own. Potential Sciences have the ambition to become a true frontier lab for chemistry, with the potential to fundamentally change how the field works.
Joséphine Kant, Sovereign AI Investment Partner
Source: Tech.eu
