DCVC co-leads $7.6M Citrine Series A to transform materials development
By Data Collective 06.16.17
Data Collective is proud to co-lead the $7.6M Series A financing of Citrine Informatics with Innovation Endeavors and Prelude Ventures. Over the past century, many innovations have accelerated manufacturing, but the materials used in the process have remained mostly unchanged. Citrine combines AI with the world’s largest materials database to help bring products to market faster. Their platform is the world’s most-used cloud-based materials and chemical data infrastructure, with millions of records and multi-user deployments at national laboratories and Global 1000 manufacturing companies.
Citrine’s unique algorithms unify decades of high quality experimental data both from sources internal to companies and from academic sources and journals. This enriched data then feeds powerful AI systems that can create new materials in record time. As a result, Citrine’s predictive intelligence technology has helped organizations hit overall R&D and manufacturing milestones in less than 50% of the time originally forecast.
Citrine unites proprietary data at massive scale, deeply defensible algorithms, and the ability to transform huge vertical industries where the founders are experts — an excellent example of the core DCVC thesis. We believe Citrine’s AI-powered materials innovation will drive the next wave of explosive innovation and growth in product development — with markedly lower cost for both manufacturer and customer alike.
The company will use its funding to accelerate its early successes with Fortune 1000 customers. We can’t wait to see Bryce, Greg, Kyle transform the product development cycle for one of our most critical industries.