Sifted - ChatGPT for biotech

Good morning there,

Some say that French tech has been going through a bit of a lull recently — but it seems the rules don’t apply to everyone (at least, not to AI companies). Less than a year after raising a $35m seed round, Paris-based AI-for-biotech startup Bioptimus has announced a $41m fundraise.

The startup certainly ticks some of the boxes that are particularly VC-friendly right now: it’s developing verticalised foundational AI models for biotech — and its cofounding team includes no less than four ex-Google researchers. 

In an interview with Sifted, cofounder Jean-Philippe Vert told me more about the tech, Bioptimus’s next steps and why he thinks the startup is likely to be on the radar of Big Tech companies in the US.

Elsewhere today:

• UK government appoints Matt Clifford to oversee AI 'revolution' in public services
• Startups back UK's AI strategy — but concerns over energy and lack of scaleup funding remain
• 92% of the UK's Russell Group universities now have a university-affiliated venture fund for spinouts

— Daphné Leprince-Ringuet, reporter

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🇬🇧 Tech entrepreneur Matt Clifford has been appointed as an advisor to the UK government, helping officials enact his 50-point plan for revolutionising public services with the help of artificial intelligence. 

• Startup founders and investors across the UK largely backed Clifford’s action plan after it was announced on Monday – but some raised concerns, suggesting there was still a lack of funding for homegrown scaleups and questioning how current infrastructure will cope with the technology’s insatiable energy demands. 

🦠 Paris-based AI startup Bioptimus has raised a $41m Series A to build foundational AI models that it says could simulate the complex behaviour of organisms, with applications in fields ranging from drug discovery to cosmetics. 

• The company, which raised a $35m seed round last year, was founded by top executives from French AI unicorn Owkin, as well as former Google researchers.

🤝 Edtech unicorn Multiverse has hired two new vice presidents. Helen Greul — who was Spotify’s head of engineering and helped launch its podcast platform — is its new VP of engineering. Asha Haji — who’s held multiple C-suite roles and founded and exited her own company, Framework — has joined as VP of operations.

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🎓 92% of the UK's Russell Group universities now have a university-affiliated venture fund for spinouts. 

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London-based Intelex Vision, an AI-powered video analytics company for real-time surveillance, raised £5.6m in Series A funding from investors including Acurio Ventures, Adara Ventures and Inveready.

London-based Oh, which has built a product which allows online creators and influencers to make AI-driven digital twins, raised €4.4m in seed funding from investors including Tangent, Big Brain Holdings, Kosmos Ventures, Tagus Capital and Bodhi Ventures.

Leiden, Netherlands-based Bimini Biotech, a biotech developing unique compounds for oncology, raised €3m in seed funding. Torrey Pines Investment led the round and was joined by investors including InnovationQuarter Capital and Libertatis Ergo Holding.

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