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BenevolentAI

AI drug discovery / TechBioUK
New to Unitard
🀝 Acquired
PeakΒ $2.1 BillionToday
~-99%
from peak
  1. πŸ¦„
    Became a unicorn
    2018
  2. πŸ“ˆ
    Peak valuation
    $2.1 Billion ’18
  3. πŸ’”
    Became a Unitard
    Mar 2025
  4. πŸ’Έ
    Last valuation
    ~$21M
Capital raised
$400M
Total raised
$93.6K/day
Raised per day

Total raised averaged per day over approximately 11.7 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: TechCrunch / Fierce Biotech (~$400M+ pre-SPAC)
Current status
Taken private via a share-for-share merger into Osaka Holdings; delisted from Euronext Amsterdam (Mar 13, 2025) at a ~EUR 11M value; continues as a private company

The rise & fall

5 moments Β· 2013–2025

The key moments.

2013
Founded in London
Ken Mulvany starts BenevolentAI to use AI for drug discovery.
TechCrunch
Apr 2018
$115M round at a $2.1B valuation$2.1B
A financing with Woodford among backers makes it one of Europe's most valuable AI startups.
TechCrunch
Apr 2022
Goes public via SPAC at ~€1.5B$1.7B
A merger with Odyssey Acquisition lists it on Euronext Amsterdam; shares then fall more than 99%.
Fierce Biotech
Mar 13 ’25
Taken private into Osaka Holdings
With a market value near €11M, shareholders approve a take-private and delist from Euronext; it continues privately.
Euronext

How it happened

BenevolentAI, founded in London in 2013 by Ken Mulvany, used artificial intelligence to find new uses for drug molecules. A $115M round in April 2018 valued it at $2.1B, with Woodford Investment Management among the backers.

It went public on Euronext Amsterdam in April 2022 through a merger with the SPAC Odyssey Acquisition at a roughly EUR 1.5B equity value, then Europe's largest SPAC deal, but clinical setbacks and dwindling partner revenue sent the shares down more than 99%.

In March 2025, with a market value near EUR 11M, shareholders approved a take-private merger into Osaka Holdings, and BenevolentAI delisted from Euronext Amsterdam. It continues as a private company rather than a bankruptcy.

Glassdoor reviews were largely positive on the science and the people, though some cited weak senior management and, by 2024 and 2025, several rounds of layoffs as the public company wound toward its take-private.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—. See our methodology.

Source: TechCrunch (Apr 18, 2018): $115M round at a $2.1B post-money (Woodford Investment Management among backers; 'led by' not explicitly stated). Fierce Biotech: Apr 2022 de-SPAC with Odyssey Acquisition at a ~EUR 1.5B equity value, then Europe's largest SPAC deal, trading as BAI on Euronext Amsterdam. Euronext / DutchNews (Mar 2025): an EGM on Mar 12, 2025 (>95% approval) backed a share-for-share merger into Osaka Holdings S.a r.l.; delisted from Euronext Amsterdam effective Mar 13, 2025, at an end market value of ~EUR 10-13M. A going-private transaction, not an insolvency; the company continues privately. Founded 2013 by Ken Mulvany.

Founders & leadership

  • Ken Mulvany
    founder; executive chairman (led at close)
    Still there β€” Executive ChairmanLinkedIn β†—
  • Joanna Shields
    CEO (2018-2023)
    Now Founder & CEO at PrecognitionLinkedIn β†—

Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.

Disclosed investors (5)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

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