Google, Tencent, Sequoia China joined $15-million funding of pharmaceutical start-up XtalPi

Beijing. January 25. Silkroadnews - Google, Tencent, Sequoia China have joined the $15-million funding of the pharmaceutical start-up XtalPi, Reuters reports.
“Alphabet Inc’s Google, Tencent Holdings Ltd and Sequoia Capital China have joined a $15 million B series funding round for Boston- and Shenzhen-based artificial intelligence (AI) pharmaceutical firm XtalPi Inc. Sequoia led the round, which brings the startup’s total funding amount to $20 million,” the report said.
XtalPi uses AI, cloud computing and quantum physics to improve drug development processes.
The deal is the first joint investment by Google and Tencent. Earlier this month, two companies said they had signed an agreement on joint use of patents, paving the way for cooperation between the two firms.
Recently, Google has increased investment in the Chinese market, where its search engine remains blocked. Last month, it announced it had launched a specialized laboratory to develop artificial intelligence in China.