Adept The latest AI startup to raise $350 million in big earnings

[ad_1]

Another week, another huge raise for a generative AI startup.

This week it’s Adept AI, raising $350 million in what the company calls part of our Series B. The new money is reportedly giving the San Francisco-based startup a post-money valuation of at least $1 billion .

Search less. Close more.

Grow your revenue with all-in-one prospecting solutions powered by the leader in private enterprise data.

General Catalyst and Spark Capital led the financing. The company previously raised a $65 million Series A.

Adept is developing AI models that can’t just respond to text commands like a chatbot, but actually turn that command into actions. In theory, the company’s generative AI could help users perform tasks from browsing the Internet to navigating enterprise software tools.

Since announcing our Series A nearly a year ago, we’ve introduced the ACT-1, our first large action model, and its already state-of-the-art demonstrative capabilities, reads a company post. It can take complex user requests across a range of software tools and execute them, even coordinating between multiple tools when needed.

No slowdown of the AI ​​craze

The round comes despite strong headwinds, such as a decline in venture financing and the collapse of Silicon Valley Bank.

However, nothing seems to be stopping AI startups from raising large amounts of cash.

The craze kicked off in January, with news of Microsoft’s massive $10 billion investment in ChatGPT’s OpenAI creator.

The wave of AI funding has not abated since then. Just a week ago, San Francisco-based AI startup and ChatGPT rival Anthropic reportedly raised another $300 million at a $4.1 billion pre-investment valuation. Spark Capital is reportedly leading the round.

This came about a month after Anthropic raised between $300 million and $400 million from Google.

Also last week, Salesforce Ventures 1, the venture capital arm of Salesforce, launched a new $250 million generative AI fund that will screen promising generative AI startups.

Despite a tough risk market, bet on more news next week.

Further reading:

Illustration: Dom Guzman

Stay up to date on recent funding rounds, acquisitions and more with Crunchbase Daily.

[ad_2]