funding

Stability AI lands a lifeline from Sean Parker, Greycroft

AI /

Stability AI, the beleaguered generative AI startup behind Stable Diffusion, has raised new cash. But it won’t reveal how much. Greycroft, Coatue Management, Sound Ventures, Lightspeed Venture Partners, O’Shaughnessy Ventures and angel investors Prem Akkaraju, Napster founder Sean Parker, Eric Schmidt and Robert Nelsen have injected fresh capital into Stability, the company revealed Tuesday morning […]

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Payabli is building payment management tools for software startups

Fundraising /

Joseph Phillips and William Corbera, both of whom come from entrepreneurial backgrounds, have been friends for over a decade. Corbera co-founded RevoPay, a payments processing platform that was acquired by payments solutions firm OSG in 2022. Phillips, for his part, led the national sales team at Seamless before heading up sales at ServiceTitan, a web-based

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Coder nabs new funds to move dev environments to the cloud

Startups /

Devs often rely on local environments — i.e. their laptops — to write, build and test code before shipping it to a cloud service to integrate and deploy it. There’s nothing wrong with that approach. But local development can introduce challenges, like conflicts between dev environments and, in the worst case, security exploits. The usability

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EvolutionaryScale, backed by Amazon and Nvidia, raises $142M for protein-generating AI

Biotech & Health /

A relatively new startup called EvolutionaryScale has secured a massive tranche of cash to build AI models to generate novel proteins for scientific research. EvolutionaryScale today announced that it raised $142 million in a seed round led by ex-GitHub CEO Nat Friedman, Daniel Gross and Lux Capital with participation from Amazon and NVentures, Nvidia’s corporate

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Etched is building an AI chip that only runs one type of model

Hardware /

As generative AI touches a growing number of industries, the companies producing chips to run the models are benefitting enormously. Nvidia in particular, which commands an estimated 70% to 95% of the market for AI chips, wields massive influence. Cloud providers from Meta to Microsoft are spending billions of dollars on Nvidia GPUs, wary of

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OmniAI transforms business data for AI

Fundraising /

The majority of companies struggle to extract value from their data. Several years ago, Forrester reported that between 60% and 73% of data belonging to the average business goes unused for analytics. That’s because the data’s siloed or otherwise pigeonholed by technical and security considerations, making it difficult — if not impossible — to apply analytical tools.

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OpenAI buys Rockset to bolster its enterprise AI

Fundraising /

OpenAI has acquired a company, Rockset, building tools to drive real-time search and data analytics. In a post on its official blog, OpenAI said that it would integrate Rockset’s technology to “power [its] infrastructure across products.” Members of Rockset’s team will join OpenAI, and Rockset’s existing customers will be transitioned off of Rockset’s platform “gradually.”

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