Chai Discovery, an artificial intelligence biology startup founded six months ago, has raised nearly $30 million from Thrive Capital, OpenAI, and Dimension Capital. The company, led by cofounders Josh Meier and Jack Dent, unveiled Chai-1, a new open-source multi-modal foundation model for molecular structure prediction. Chai-1 is designed to perform at the state-of-the-art across a variety of drug discovery tasks and is said to rival models such as AlphaFold3 and ESM3. The model enables unified prediction of proteins, small molecules, DNA, RNA, and covalent modifications. Chai Discovery has also released the inference code, weights, and a web interface for Chai-1, allowing for commercial applications in drug discovery and biological engineering. Meier and Dent have been recognized as Neo Scholars since 2017.