- Companies
- Chai Discovery
Chai Discovery Revenue, Valuation, Funding & Investors
Chai Discovery is valued at $3.8B as of July 2026.
Last Chai Discovery valuation
$3.8B
Series C · Jul 2026
Last Chai Discovery funding round
$400M
Series C · Jul 2026
Chai Discovery revenue
$48M
Seed · Sep 2024
Key investors in Chai Discovery
Thrive Capital
OpenAI
Menlo Ventures
General Catalyst
SV Angel
Oak HC/FT
About Chai Discovery
Chai Discovery is a San Francisco-based applied AI research lab, founded in 2024, that builds foundation models to predict and design interactions between biochemical molecules for drug discovery. Its models, including Chai-1, Chai-2, and Chai-3, are used to design molecules such as antibodies for difficult drug targets, with its most recent model achieving a de novo antibody hit rate far above prior computational methods. The company's technology has been used by pharmaceutical partners including Eli Lilly, Pfizer, and Novartis.
Founded
2024
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing, Subscription
Revenue
$48M (Sep 2024)
Valuation
$3.8B (Jul 2026)
Chai Discovery Valuation
Chai Discovery is currently valued at $3.8B, based on its Series C in July 2026.
The $400M round was led by Index Ventures, with participation from General Catalyst, Yosemite, Menlo Ventures, Kleiner Perkins, Battery Ventures and 6 other investors.
Chai Discovery's valuation has grown 25x from $150M at its seed round in September 2024 to $3.8B in July 2026, across 4 priced rounds.
Chai Discovery valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2026 | Series C | $3.8B | - |
| Dec 2025 | Series B | $1.3B | - |
| Aug 2025 | Series A | $1.3B | - |
| Sep 2024 | Seed | $150M | 3.1x |
Chai Discovery Revenue
Chai Discovery's latest recorded revenue is $48M, as of its seed round in September 2024. At a $150M valuation, that implies a 3.1x revenue multiple.
Chai Discovery revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2024 | $48M | $150M | 3.1x | Seed |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Chai Discovery Funding History
Chai Discovery has raised a total of $630M across 5 funding rounds.
Chai Discovery's first fundraising round was a $30M seed round in September 2024. The most recent completed round was a $400M Series C in July 2026.
Chai Discovery funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Series C | Index Ventures (lead); General Catalyst; Yosemite; Menlo Ventures; Kleiner Perkins; Battery Ventures; OpenAI; Sequoia Capital; Oak HC/FT; UV Netware; Sapphire Ventures; Thrive Capital | $400M | $3.8B | Chai Discovery Inc. raised $400 million in Series C funding on July 14, 2026, at a post-money valuation of $3.8 billion, nearly tripling its previous $1.3 billion valuation from December 2025. The round was led by Index Ventures alongside Kleiner Perkins, Sequoia Capital, and Dimension, with new investors including Battery Ventures, Bain Capital Ventures, Baillie Gifford, BDT & MSD, Sapphire Ventures, and Avra Capital joining existing backers such as Thrive Capital, OpenAI, Oak HC/FT, Menlo Ventures, and General Catalyst. The company issued convertible preferred shares and intends to use the funds to expand operations and accelerate R&D efforts in AI-driven molecular design. Chai Discovery, based in San Francisco, develops artificial intelligence models to predict biochemical molecule interactions and has discovered AI-designed antibodies that have reached major pharmaceutical companies, with its Chai-3 model achieving a 16% de novo antibody hit rate—100-fold better than prior computational methods. Total funding to date is approximately $630 million across four rounds since its 2024 founding, including $30M seed (2024), $70M Series A (August 2025), and $130M Series B (December 2025). Commercial pharma partners include Eli Lilly, Pfizer, and Novartis, demonstrating real-world AI deployment by leading drugmakers. |
| Dec 2025 | Series B | General Catalyst (lead); Oak HC/FT (lead); Yosemite; Emerson Collective; Menlo Ventures; SV Angel; Glade Brook Capital Partners; Neo; OpenAI; Thrive Capital; Lachy Groom; Dimension Capital | $130M | $1.3B | Chai Discovery is an applied AI research lab founded in 2024 that predicts and reprograms interactions between biochemical molecules to accelerate drug discovery, focusing on designing molecules with drug-like properties for challenging targets using foundation models like Chai-1 and the newly released Chai-2, which excels in de novo antibody design, GPCR agonists, and precise epitope binding validated by cryo-EM. The company raised $130 million in a Series B round on December 15, 2025, co-led by Oak HC/FT and General Catalyst, valuing it at $1.3 billion post-money and bringing total funding to over $225 million following a $70 million Series A in August 2025 led by Menlo Ventures. Participants included Thrive Capital, OpenAI, Dimension, Menlo Ventures, Lachy Groom, Yosemite, Neo, SV Angel, with new investors Emerson Collective and Glade Brook Capital Partners. Proceeds will accelerate R&D, expand commercialization, and develop a computer-aided design suite for molecules, aiming for IND-ready biologics in a single in silico pass while implementing a Responsible Deployment policy for selective access. Chai-2 demonstrates atomic-level accuracy and tackles undruggable targets, positioning the company to transform biology into an engineered discipline. Chai operates in the competitive AI drug discovery space, backed by OpenAI, with co-founder and CEO Josh Meier's prior experience at OpenAI and Facebook. The rapid follow-on from Series A highlights strong investor confidence amid 2025 breakthroughs in AI for therapeutics, with plans for 2026 deployment into pharma workflows. |
| Aug 2025 | Series A | Menlo Ventures (lead); SV Angel; Fred Ehrsam; Neo; Anthology Fund; OpenAI; DCVC; Avenir; Thrive Capital; Lachy Groom; DST Global; Dimension Capital | $70M | $1.3B | Chai Discovery is an AI-powered biotech company founded in 2024 that develops foundation models to predict and reprogram biochemical molecule interactions, enabling the design of drugs for previously undruggable targets, including full-length monoclonal antibodies via its Chai-2 model. The company emerged from stealth earlier in 2025 with a $70M Series A led by Menlo Ventures in August, followed by a $130M Series B on December 15, 2025, co-led by Oak HC/FT and General Catalyst, valuing the company at $1.3 billion post-money and bringing total funding to over $225M. Participating investors included OpenAI, Thrive Capital, Menlo Ventures, Dimension, DST Global (implied via related funds), Lachy Groom, SV Angel, NEO/Yosemite, and newcomers Emerson Collective and Glade Brook. Chai Discovery's platform aims to transform drug discovery into a programmable engineering discipline, with Chai-2 demonstrating high success rates: 86% of designed antibodies had zero or one preclinical issues, and 24 of 28 targets yielded drug-like candidates. The Series B funds will accelerate research, product development, and commercialization of a 'computer-aided design suite' for molecules, positioning Chai to produce IND-ready biologics in silico while adhering to a Responsible Deployment policy limiting access. The rapid follow-on from Series A underscores strong investor confidence in AI-driven biotech, amid a sector hype shift toward proven utility. Board additions include Annie Lamont (Oak HC/FT) and Hemant Taneja (General Catalyst), with prior advisor Mikael Dolsten (ex-Pfizer CSO). |
| Jan 2025 | Seed | Flat Capital | - | - | Flat Capital invested approximately SEK 3.3 million in Chai Discovery as the smallest of four holdings in its SEK 49 million portfolio of US AI companies. Chai Discovery develops AI models for predicting molecular structures and interactions to speed up drug development. The investment was made through a special purpose vehicle and, according to Flat's 2024 annual report, executed in the fourth quarter of 2024. |
| Sep 2024 | Seed | OpenAI (lead); Thrive Capital (lead); Nitesh Banta | $30M | $150M | Chai Discovery is an AI-driven biotech startup founded in 2024 that develops foundation models like Chai 1 and Chai 2 to predict molecular interactions, enable de novo antibody design, and create a computer-aided design suite for engineering drug-like molecules targeting challenging diseases. The company raised $130 million in a Series B round at a $1.3 billion valuation, led by General Catalyst and Oak HC/FT, with participation from OpenAI, Thrive Capital, Menlo Ventures, Dimension, Neo, Yosemite Venture Fund, Lachy Groom, SV Angel, Glade Brook, and Emerson Collective. This brings total funding to over $225 million following a $70 million Series A led by Menlo Ventures in August 2024. The Series B funds will accelerate research, product development, and commercialization efforts. Annie Lamont of Oak HC/FT and Hemant Taneja of General Catalyst joined the board. CEO Josh Meier, formerly at OpenAI and Facebook, leads the effort to revolutionize drug discovery by improving success rates in custom antibody design over traditional methods. Chai operates in a competitive AI-biotech landscape with players like Google DeepMind's AlphaFold, amid surging VC interest in AI for faster drug development. A prior seed round of nearly $30 million led by Thrive Capital valued the company at $150 million, but the queried round matches the later Series B with OpenAI and Thrive Capital participation, though announced later than the approximate September 2024 date. |
Who has invested in Chai Discovery?
25 investors have backed Chai Discovery across its funding rounds, including Thrive Capital, OpenAI, Menlo Ventures, General Catalyst, SV Angel and Oak HC/FT.
Lead investors include Index Ventures, General Catalyst, Oak HC/FT, Menlo Ventures, OpenAI and 1 other investor.
Chai Discovery Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Sep 2024 | ||
| 4 | Lead | Sep 2024 | ||
| 3 | Lead | Aug 2025 | ||
| 2 | Lead | Dec 2025 | ||
| 2 | Participant | Dec 2025 | ||
| 2 | Participant | Aug 2025 | ||
| 2 | Participant | Aug 2025 | ||
| 2 | Lead | Dec 2025 | ||
| 2 | Participant | Aug 2025 | ||
| 2 | Participant | Aug 2025 | ||
| 1 | Participant | Dec 2025 | ||
| 1 | Lead | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
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Start Free TrialChai Discovery Competitors
Chai Discovery competitors include listed companies like Arcs Co and Infleqtion, and private ones like Astromech, Sword Health, Synthesia and Relativity Space.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.8B | - | ||
| Publicly listed | $4B | $185M | $1.3B | 0.2x | ||
| Private | $240M | - | $4B | 16.7x | ||
| Private | $100M | - | $4B | 40.0x | ||
| Private | - | - | $4.2B | - | ||
| Publicly listed | $29M | ($52M) | $3.1B | 64.5x |
Chai Discovery Public Comps
Chai Discovery is still privately-owned, but its public comps include XtalPi, Tenable, CorVel, Fermi, Infleqtion, Shenzhen Intellifusion, Adaptive Biotech, SoundHound, Intsig Information and Bloomage BioTechnology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $120M | $22M | 24.8x | 21.5x | 134.0x | (141.6x) | |||
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
| $959M | $175M | 3.5x | - | 19.1x | - | |||
| - | ($490M) | - | 281.8x | (7.5x) | (63.2x) | |||
| $29M | ($52M) | 92.3x | 64.5x | (50.9x) | (60.0x) | |||
| $200M | ($3M) | 14.3x | 14.6x | (952.5x) | (1086.5x) | |||
| $277M | ($39M) | 16.7x | 16.0x | (117.9x) | 675.9x | |||
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
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Common questions about Chai Discovery
| When was Chai Discovery founded? | Chai Discovery was founded in 2024. |
| Where is Chai Discovery headquartered? | Chai Discovery is headquartered in San Francisco, CA, United States. |
| Is Chai Discovery publicly listed? | No, Chai Discovery is a private, VC-backed company. |
| What is Chai Discovery's valuation? | Chai Discovery was last valued at $3.8B in its Series C in July 2026. |
| How much funding has Chai Discovery raised? | Chai Discovery has raised $630M across 5 funding rounds. |
| What was Chai Discovery's last funding round? | Chai Discovery's last funding round was a $400M Series C in July 2026, led by Index Ventures. |
| Who are Chai Discovery's investors? | Chai Discovery's investors include OpenAI, Thrive Capital, Menlo Ventures, General Catalyst, Yosemite, SV Angel, Neo, Oak HC/FT, Lachy Groom, Dimension Capital and 15 others. |
| What is Chai Discovery's revenue? | Chai Discovery's latest recorded revenue is $48M (September 2024). |
| What is Chai Discovery's revenue multiple? | Chai Discovery's latest valuation implies a 3.1x revenue multiple ($150M valuation on $48M of revenue). |
| Which companies are comparable to Chai Discovery? | Companies comparable to Chai Discovery include Astromech, Arcs Co, Sword Health, Synthesia, Relativity Space and Infleqtion. |
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