QuanMol Tech Announces $3M Seed Funding This Month
New York, New York--(Newsfile Corp. - February 4, 2023) - QuanMol Tech, a technology company specializing in the integration of AI in molecular design, has announced that it has received $3 million in seed funding. The company aims to improve the drug development process by providing AI-powered tools to medicinal chemists for data interpretation, reducing the cost and time associated with trial and error.
The company's first product will be a SaaS platform for medicinal chemists in pharmaceutical companies, who currently lack quantitative tools for scientific computationand project management in their molecular design procedures.
QuanMol Tech Inc.
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The application of QuanMol's technology has the potential to improve the efficiency of optimizing drug molecules and increase the effectiveness of treatments for diseases. The QuanMol team consists of individuals with backgrounds in physics, chemistry, and AI from academic institutes including the University of California, Berkeley, Caltech, and UW Madison, as well as experienced entrepreneurs and investors in pharma industry.
"The first signature product that we will launch is a SaaS platform that serves medicinal chemists in pharmaceutical companies, who don't have software for quantitative scientific calculations or data and project management in their daily molecular designs," says Xudong Lv and Xingyu Shen, founders of QuanMol Technology.
QuanMol Tech was founded in 2022 and has received a significant amount of funding. It is supported by the venture capital firm Plug and Play, which has invested in a large number of startups. QuanMol was also a finalist in the "BIG BANG Beauty Tech Startup Challenge" launched by L'Oreal China in 2022. QuanMol will open for next round of financing soon.
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