SandboxAQ has raised over $300 million in funding from prominent investors including Fred Alger Management, T. Rowe Price Associates, Mumtalakat, Parkway Venture Capital, Breyer Capital, Rizvi Traverse, S32, US Innovative Technology Fund, Ava Investments, In-Q-Tel (IQT), and individual contributors like Eric Schmidt, Marc Benioff, David Siegel, and Yann LeCun. The round values SandboxAQ at $5.3 billion pre-money and is aimed at accelerating the development of Large Quantitative Models (LQMs), quantum, and AI solutions in fields like drug discovery, materials science, cybersecurity, and navigation.
SandboxAQ’s LQMs target computationally intensive scientific and business challenges across industries, complementing Large Language Models (LLMs) by focusing on quantitative data applications. CEO Jack D. Hidary highlighted their role in addressing large-scale problems in biopharma, defense, and chemicals, enabling SandboxAQ to deepen its impact with this funding.
The company has made strides in multiple areas:
- Healthcare: AQBioSim advanced drug discovery by identifying biomarkers and designing drug molecules using generative AI tools.
- Materials Science: AQChemSim improved battery life predictions and catalytic activity modeling, boosting efficiency for global manufacturers.
- Navigation: AQNav advanced GPS-independent aircraft navigation through quantum sensing, achieving a significant milestone with the U.S. Air Force.
- Cybersecurity: Its AQtive Guard cryptography management solution expanded to new sectors through its Accenture partnership.
This funding positions SandboxAQ to scale its innovations across critical industries while supporting its mission of combining AI and quantum technologies to solve global challenges.
For more details, visit SandboxAQ’s official announcement here.
December 18, 2024
