# Anew Labs Raises USD 290M in First External Round

On September 16, 2026, Shanghai-based Anew Labs, an AI drug discovery platform spun off from ByteDance, raised USD 290 million in its first external round co-led by HSG Sequoia China, IDG Capital, Hillhouse Ventures and 5Y Capital, at a USD 1.5 billion valuation.



Canonical: https://uniquebase.ai/news/b3cc867f-4cda-4659-8a38-78ce8a47091d
Stable identifier: b3cc867f-4cda-4659-8a38-78ce8a47091d
Snapshot captured: 2026-10-20T18:19:32.670Z
English updated: 2026-10-20T18:21:32.462Z

## Connected profiles

- [Anew Labs](/companies/anew-labs)
- [Gaoling Venture Capital](/institutions/gaoling-venture-capital)
- [HSG Hongshan China](/institutions/hsg-hongshan-china)
- [IDG Capital](/institutions/idg-capital)
- [Wuyuan Capital](/institutions/wuyuan-capital)

## Sources

- https://www.reuters.com/legal/transactional/bytedance-completes-290-million-fundraising-ai-drug-unit-after-its-spin-off-2026-09-16/