India, Feb. 18 -- AI-powered drug discovery startup Peptris has raised Rs.70 Cr ($7.7 Mn) in a Series A funding round co-led by IAN Alpha Fund and Speciale Invest. Besides, investors like Tenacity Ventures and BYT Ventures also participated in the round.

The startup plans on utilising the fresh capital to bolster its clinical readiness while also expanding its pipeline over the next two years. The startup is planning to launch several new Novel Chemical Entities (NCE) programmes along with multiple drug repurposing and rescue initiatives that could potentially revive shelved clinical-stage drugs.

On the operational front, Peptris is looking to expand its team size by hiring across functions like biology, chemistry, data science and AI f...