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Google-Backed Startup XtalPi Taps Goldman to Seek Fresh Funds

  • Company seeking to raise up to $400 million in private round
  • Fundraising could boost firm’s valuation to about $1.9 billion
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XtalPi, an artificial intelligence drug discovery company, is weighing a new funding round ahead of a potential initial public offering, according to people with knowledge of the matter.

The Alphabet Inc.’s Google-backed startup is working with Goldman Sachs Group Inc. as it seeks to raise about $300 million to $400 million through a private placement, tapping both existing and new investors, the people said. The latest round could boost the company’s valuation to about $1.9 billion, the people said, asking not to be identified as the information isn’t public.