London-based Synthace Ltd, a cloud-based platform that helps improve the success rate of biological research, has closed a $25.6-million Series B financing round led by Hong Kong-based Horizons Ventures, the private investment arm of investor Li Ka-shing, according to an announcement.
Its existing investors, Luminous Ventures, SOSV and others also participated in the round.
Synthace will use the new funds towards product development and expansion of its customer base. Synthace uses artificial intelligence for designing, simulating biological systems and analysing experimental data.
“Digital-to-physical workflows have transformed the semiconductor, aerospace, automobile and many other industries. Now it is the turn of the biotechnology industry,” said Tim Fell, CEO, Synthace.
Synthace recently launched a white paper which shed light on how biotechnology will be transformed by cloud connected and digitally empowered research tools that augment human capabilities.
“We believe that Synthace will lead the industry’s transition to computer-aided biology, owing to its truly disruptive and cutting-edge AI driven experiment design capability and experiment execution technology,” said Patrick Zhang, of Horizons Ventures.
Synthace is currently developing Antha, a language and software platform specifically for biology that allows researchers achieve better results, faster.
According to Crushbase, Synthace has so far raised $45.2 million since establishment in 2011.
Its other investors include Sofinnova Partners, Amadeus Capital Partners, 11.2 Capital and White Cloud Capital.
Horizons Ventures, which manages $150 million of private capital across three funds and has invested in 25 technology startups, focuses on communication and systems, semiconductors, healthcare and software applications for businesses.