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Since its founding in 2021, OpenAI Startup Fund has raised $175 million for its principal fund and secured an extra $114 million by means of 5 separate particular function automobiles, that are funding swimming pools for particular alternatives.
In contrast to many sizable tech firms, OpenAI says it doesnβt use the corporateβs cash to spend money on startups.Β The ChatGPT maker says its OpenAI Startup Fund is raised from outdoors traders. This contains participation from important OpenAI backer Microsoft, in addition to βdifferent OpenAI companions,β based on the fundβs web site.
The OpenAI Startup Fund, which is managed by a devoted group, has up to now invested in over a dozen startups, based on information suppliers PitchBook and Crunchbase and Trendsterβs analysis.Β
The next firms have introduced investments from the OpenAI Startup Fund, organized alphabetically.
1X: This Norwegian humanoid robotic startup raised $23.5 million in a deal led by the OpenAI Startup Fund and Tiger World in early 2023. Nonetheless, OpenAIβs fund wasnβt named as a participant within the firm when it introduced its $100 million Sequence B in January.Β Β
Atmosphere Healthcare: This AI-powered medical note-taking startup introduced a $70 million Sequence B in February 2024, co-led by OpenAIβs fund and Kleiner Perkins. Atmosphere is amongst quite a few startups, together with Abridge, Nabla, Suki, and Microsoft-owned Nuance, which might be constructing AI medical scribes.
Anysphere (aka Cursor):Β In October 2023, OpenAIβs fund led the $8 million seed spherical into Anysphere, the maker of AI-powered coding assistant Cursor. OpenAI hasnβt been named as an investor within the firmβs subsequent rounds.
Chai Discovery: This startup, which is creating an open supply AI foundational mannequin for drug discovery, raised a $30 million in seed spherical led by Thrive Capital and OpenAIβs fund final September. The deal valued the 6-month-old Chai Discovery at $150 million.Β Β
Class Companion: This edtech startup raised a $4 million seed spherical in 2023 from OpenAIβs fund and a number of angels. It helps academics present fast, personalised suggestions to their college students.Β Β
Descript: The collaborative audio and video modifying platform raised $50 million in a Sequence C spherical led by OpenAIβs fund shortly after ChatGPT was launched to the world in late 2022. Different traders within the spherical included Andreessen Horowitz, Redpoint Ventures, Spark Capital, and ex-Y Combinator accomplice Daniel Gross. Descript hasnβt reported every other capital raises since its Sequence C.
Determine AI: AI robotics startup Determine raised a $675 million Sequence B in February 2024 from Nvidia, OpenAIβs fund, Microsoft, and others. The spherical valued the corporate at $2.6 billion. Determine AI is now reportedly in talks to boost $1.5 billion at a $39.5 billion valuation.
Ghost Autonomy: This maker of autonomous driving software program raised a $55 million Sequence E in April 2023, and OpenAIβs fund invested $5 million of that, based on PitchBook information. However the funding didnβt work out. A 12 months later the corporate shut down.
Harvey AI: This authorized tech startup raised a $21 million Sequence A in April 2023 from OpenAIβs fund and others. The fund additionally participated in three subsequent rounds, together with final monthβs $300 million Sequence D, which valued Harvey at $3 billion.
Heeyo: Instructional AI chatbot for youths Heeyo introduced that it raised $3.5 million from OpenAIβs fund, Alexa Fund, Pear VC, and different traders in August.
Kick: This firm is creating AI brokers that it says can βself-driveβ bookkeeping processes. It raised a $9 million seed spherical co-led by Common Catalyst and OpenAIβs fund in October.
Mem: This AI-powered note-taking startup raised a $23.5 million Sequence A spherical in November 2022, led by OpenAIβs fund. Mem hasnβt reported any subsequent funding rounds.Β Β
Milo: This startup is creating an AI-powered private assistant that helps dad and mom manage and maintain observe of their childrenβ actions. Milo raised an undisclosed quantity of pre-seed and seed funding from OpenAIβs fund, YC, and others.
Bodily Intelligence: Foundational software program for robots startup Bodily Intelligence raised a $70 million seed spherical final March. OpenAIβs fund was a part of that and likewise participated within the firmβs $400 million Sequence A that valued the corporate at greater than $2 billion. Different traders within the newest spherical included Lux Capital, Sequoia, and Jeff Bezos.
Converse: This AI-powered language studying app developer raised a $27 million Sequence B spherical in November 2022, led by OpenAIβs fund. In December, the fund participated in Converseβs $78 million Sequence C, which valued the corporate at $1 billion.
Thrive AI: Huffington Submit founder Arianna Huffington and OpenAI Startup Fund introduced final July that they teamed up on investing and constructing this βAI well being coachβ startup. Thrive AI aimed to boost $10 million, based on a regulatory submitting.
Unify: This gross sales expertise startup secured about $19 million in seed and Sequence A capital from the OpenAI Startup Fund, Thrive Capital, and Emergence.
