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Together raises $20M to build open source generative AI models

Variety

16-05-2023 | 09:22

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Together raises $20M to build open source generative AI models

Generative AI — AI that can write essays, create artwork and music, and more — continues to attract outsize investor attention. According to one source, generative AI startups raised $1.7 billion in Q1 2023, with an additional $10.68 billion worth of deals announced in the quarter but not yet completed.

There’s scores of competition, including incumbents like OpenAI and Anthropic. But despite that, VCs aren’t shying away from untested players and up-and-comers.

Case in point, Together, a startup developing open source generative AI, today announced that it raised $20 million — on the larger side for a seed round — led by Lux Capital with participation from Factory, SV Angel, First Round Capital, Long Journey Ventures, Robot Ventures, Definition Capital, Susa Ventures, Cadenza Ventures and SCB 10x. Several high-profile angel investors were also involved, including Scott Banister, one of the co-founders of PayPal, and Jeff Hammerbacher, a Cloudera founding employee.

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