SandboxAQ has closed its Series E financing round, raising over $450 million in capital.
The company said Friday it will use the funding to accelerate innovation in quantitative artificial intelligence and broaden its reach across critical industries.
According to SandboxAQ, the investments highlight the investors’ confidence in its large quantitative models, or LQMs, that seek to redefine how organizations leverage AI to address complex quantitative and scientific challenges.
Since emerging from Alphabet in 2022, SandboxAQ has secured over $950 million in funding to advance the development of its quantitative AI technologies in biopharma, materials sciences, chemistry, cybersecurity and financial services, among other sectors.
Expanded Investor Base
The new investors in SandboxAQ include Horizon Kinetics, BNP Paribas, Google, NVIDIA and Bridgewater Associates Founder Ray Dalio.
“AI and advanced computing are having a powerful impact on financial services, and BNP Paribas Global Markets is proud to be at the forefront of this trend,” said Olivier Osty, head of corporate and institutional banking global markets at BNP Paribas. “I look forward to working with SandboxAQ to explore innovative solutions at the cross-roads of AI and quantum techniques.”
Existing investors supporting SandboxAQ’s growth initiatives include Breyer Capital, Eric Schmidt, Alger, Paladin Capital, TIME Ventures, S32, and funds and accounts advised by T. Rowe Price Associates.
Over $300M in Investment
In December, SandboxAQ announced that it received over $300 million in funding to further develop LQMs and enhance AI applications in materials science, navigation, cybersecurity, medical devices and drug discovery.
