Insitro, a California-based AI drug discovery and development company, has raised USD 400 million in Series C funding. The round was led by Canada Pension Plan Investment Board (CPP Investments), with participation from existing investors Andreessen Horowitz, T. Rowe Price Associates, GV, BlackRock, and new investors Temasek and Softbank Investment Advisors, among others. 

The round brings the company’s total funds raised to USD 743 million, making it one of the highest-funded startups in the AI drug discovery space. 

The company plans to use the proceeds to further develop its AI platform’s capabilities and advance its drug pipeline.  

Founded in 2018, Insitro’s drug discovery approach is based on test tube experiments involving cells outside the human body to predict what drug developers would see in a human clinical model. Using this method, it creates models of genetic diseases and applies AI to find differences between healthy and sick cells.