Recursion, a biopharma company combining automated, experimental biology with artificial intelligence to discover and develop drugs at scale, has closed a $121 million Series C financing round.

The investment was led by Baillie Gifford’s flagship investment trust, Scottish Mortgage Investment Trust, with participation by new institutional investors Intermountain Ventures, Regents of the University of Minnesota, Texas Tech University System, and angel investors.

All prior institutional investors also participated in the round, including Lux Capital, Data Collective, Mubadala Ventures, Two Sigma Ventures, Obvious Ventures, Felicis Ventures, Epic Ventures, Menlo Ventures, AME Cloud Ventures, and CRV.

[Image courtesy: Recursion]