Outlook Business Desk
Since its launch in 2021, the OpenAI Start-up Fund has secured $175mn for its main fund. OpenAI clarifies that it does not invest its capital in start-ups, but the fund is backed by external investors. According to its website, contributors include Microsoft, a major OpenAI supporter, along with other OpenAI partners.
In February 2024, AI robotics startup Figure secured a $675mn Series B funding round from Nvidia, OpenAI’s fund, Microsoft, and others, valuing the company at $2.6bn, according to TechCrunch.
Robotics software start-up Physical Intelligence raised a $70mn seed round, with OpenAI’s fund among the investors. OpenAI also participated in the company's $400mn Series A, which valued it at over $2 bn.
OpenAI’s fund also co-led Series B round for Ambience Healthcare in February 2024. As announced by the AI-driven medical note-taking startup, it secured $70mn.
In November 2022, AI-driven language learning app Speak developer secured a $27mn Series B round, led by OpenAI’s fund. The fund also took part in Speak’s $78mn Series C in December, which valued the company at $1bn.
In April 2023, Harvey AI raised a $21mn Series A, with OpenAI’s fund among the investors. The fund also took part in three additional rounds, including a $300mn Series D last month, which valued the legal tech startup at $3bn.
Descript, a collaborative audio and video editing platform, raised $50 million in a Series C round, led by OpenAI’s fund in 2022.
In November 2022, this AI-driven note-taking startup secured a $23.5mn Series A round, led by OpenAI’s fund.