Since its founding in 2021, OpenAI Startup Fund has raised $175 million for its principal fund and secured an extra $114 million by way of 5 separate particular objective automobiles, that are funding swimming pools for particular alternatives.
Unlike many sizable tech corporations, OpenAI says it doesn’t use the corporate’s cash to put money into startups. The ChatGPT maker says its OpenAI Startup Fund is raised from outdoors traders. This consists of participation from important OpenAI backer Microsoft, in addition to “different OpenAI companions,” in keeping with the fund’s web site.
The OpenAI Startup Fund, which is managed by a devoted staff, has up to now invested in over a dozen startups, in keeping with knowledge suppliers PitchBook and Crunchbase and TechCrunch’s analysis.
The following corporations 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 Global in early 2023. However, OpenAI’s fund wasn’t named as a participant within the firm when it introduced its $100 million Series B in January.
Ambience Healthcare: This AI-powered medical note-taking startup introduced a $70 million Series B in February 2024, co-led by OpenAI’s fund and Kleiner Perkins. Ambience is amongst various startups, together with Abridge, Nabla, Suki, and Microsoft-owned Nuance, which might be constructing AI medical scribes.
Anysphere (aka Cursor): In October 2023, OpenAI’s fund led the $8 million seed spherical into Anysphere, the maker of AI-powered coding assistant Cursor. OpenAI hasn’t been named as an investor within the firm’s 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 OpenAI’s fund final September. The deal valued the 6-month-old Chai Discovery at $150 million.
Class Companion: This edtech startup raised a $4 million seed spherical in 2023 from OpenAI’s fund and a bunch of angels. It helps lecturers present fast, customized suggestions to their college students.
Descript: The collaborative audio and video enhancing platform raised $50 million in a Series C spherical led by OpenAI’s fund shortly after ChatGPT was launched to the world in late 2022. Other traders within the spherical included Andreessen Horowitz, Redpoint Ventures, Spark Capital, and ex-Y Combinator associate Daniel Gross. Descript hasn’t reported every other capital raises since its Series C.
Figure AI: AI robotics startup Figure raised a $675 million Series B in February 2024 from Nvidia, OpenAI’s fund, Microsoft, and others. The spherical valued the corporate at $2.6 billion. Figure 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 Series E in April 2023, and OpenAI’s fund invested $5 million of that, in keeping with PitchBook knowledge. But the funding didn’t work out. A yr later the corporate shut down.
Harvey AI: This authorized tech startup raised a $21 million Series A in April 2023 from OpenAI’s fund and others. The fund additionally participated in three subsequent rounds, together with final month’s $300 million Series D, which valued Harvey at $3 billion.
Heeyo: Educational AI chatbot for teenagers Heeyo introduced that it raised $3.5 million from OpenAI’s fund, Alexa Fund, Pear VC, and different traders in August.
Kick: This firm is creating AI brokers that it says can “self-drive” bookkeeping processes. It raised a $9 million seed spherical co-led by General Catalyst and OpenAI’s fund in October.
Mem: This AI-powered note-taking startup raised a $23.5 million Series A spherical in November 2022, led by OpenAI’s fund. Mem hasn’t reported any subsequent funding rounds.
Milo: This startup is creating an AI-powered private assistant that helps dad and mom set up and hold observe of their youngsters’ actions. Milo raised an undisclosed quantity of pre-seed and seed funding from OpenAI’s fund, YC, and others.
Physical Intelligence: Foundational software program for robots startup Physical Intelligence raised a $70 million seed spherical final March. OpenAI’s fund was a part of that and likewise participated within the firm’s $400 million Series A that valued the corporate at greater than $2 billion. Other traders within the newest spherical included Lux Capital, Sequoia, and Jeff Bezos.
Speak: This AI-powered language studying app developer raised a $27 million Series B spherical in November 2022, led by OpenAI’s fund. In December, the fund participated in Speak’s $78 million Series C, which valued the corporate at $1 billion.
Thrive AI: Huffington Post founder Arianna Huffington and OpenAI Startup Fund introduced final July that they teamed up on investing and constructing this “AI well being coach” startup. Thrive AI aimed to boost $10 million, in keeping with a regulatory submitting.
Unify: This gross sales know-how startup secured about $19 million in seed and Series A capital from the OpenAI Startup Fund, Thrive Capital, and Emergence.
