Dunia Innovations GmbH, a Berlin, Germany-based company which specializes in AI-driven material discovery, raised $11.5M in funding.
The round was led by Elaia and redalpine. Other backers included the EIC, Pace Ventures, Kindred Capital, Deep Science Ventures, and Anglo American as well as industry expert angels.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2022 and led by Dr. Alexander Hammer, Dunia combines novel science-based AI algorithms with a proprietary self-driving lab to massively accelerate the discovery of new advanced materials. Focusing on power-to-x electrocatalysts used for green hydrogen or ammonia generation, as well as the conversion of CO2 into more advanced chemical products, the platform addresses the critical problems in realizing the global energy transition towards low-carbon fuels and chemicals.
The company has also been awarded with grants from the IBB and the EIC Accelerator and lauded by programs like the NZTC’s TechX Clean Energy Accelerator, Henry Royce Institute, and RMI’s Third Derivative Accelerator.
The founding team consists of scientists and engineers with deep expertise in chemistry, machine learning, and robotics, and the company is backed by angels including Dr Udo Jung (founder and long-term leader of both the chemicals and petrochemicals divisions at BCG), Dr Chris Gibson (CEO and co-founder of Recursion), Prof. Lee Cronin (Regius Chair of Chemistry and CEO of Chemify), and Dr Carlos Haertel (Former Executive at GE and ex-CTO of Climeworks) who will serve as Chairman of the company board.
FinSMEs
23/10/2024