Good AI 2024 Year-End Update: Building Resilience, Celebrating Milestones
To our Limited Partners, Founders, Partners and Friends,
As 2024 draws to a close, we at Good AI Capital want to express our heartfelt gratitude for your unwavering support. Your trust in our mission to empower transformative AI-driven companies has been pivotal in navigating this year's triumphs and challenges.
1. A Story of Resilience: Reflections on Mekonos
This year, Mekonos, one of our portfolio companies, made the difficult decision to cease operations. While this is never easy, it reminds inherent challenges in fostering groundbreaking innovation. We continue to admire the resilience and dedication of the Mekonos team, who pushed the boundaries of what’s possible in cell and gene therapy delivery. Their efforts inspire us to double down on our commitment to supporting visionary founders navigating complex markets.
2. Portfolio Highlights: BitBio’s $30M Fundraising Success
We are thrilled to share that BitBio raised $30 million in a funding round led by MG Investments. This milestone underscores their growing impact in enabling researchers, drug developers, and cell therapy innovators with precision tools. BitBio’s continued success highlights the transformational potential of its opti-ox cell programming technology, and we’re proud to stand by its journey.
3. New Investments: Expanding our portfolio.
We’re excited to welcome two innovative companies to our portfolio.
Persist AI: Revolutionizing drug formulation development with its proprietary AI-driven automation platform. By combining custom-built robotics, next-generation microfluidics, and advanced AI models, Persist AI accelerates the creation of complex formulations like long-acting injectables by 50%. With backers that include Eli Lilly, Purdue University, Y Combinator, Innospark, and Spero Ventures, Persist AI aligns perfectly with Good AI Capital’s mission to make healthcare more accessible by addressing critical inefficiencies in pharmaceutical formulation.
Coblocks: Founded by data leaders from Palantir and Square, Coblocks is simplifying and transforming how businesses approach data engineering through an intuitive, AI-powered platform. By providing a modular, no-code workspace, Coblocks empowers teams to integrate, analyze, and act on their data easily.
Both companies exemplify our focus on founders who tackle challenging industry problems with AI, pushing boundaries in healthcare and enterprise technology.
Celebrating Founder Resilience and LP Support
This year reaffirmed a core truth about venture building: it takes resilience, vision, and grit. We are deeply inspired by the unwavering determination of our founders to confront obstacles, learn from setbacks, and build solutions that truly matter.
We are equally grateful to you for your steadfast support and belief in our mission. Your partnership fuels our ability to identify and nurture the next wave of transformative AI startups.
As we look forward to 2025, we remain committed to our shared vision of leveraging AI to transform lives and industries. Thank you for being an integral part of our journey.
Wishing you and your families a joyful holiday season and a prosperous New Year.
Warm Regards,
Your Good AI Team