Source: Bloomberg
Summary
Parag Agrawal’s AI startup has raised $100 million in funding, led by Sequoia, just months after raising a previous $100 million. The company, founded by the former Twitter CEO, aims to develop AI-powered tools. This new funding brings the total investment in the startup to $200 million.
Our Reading
The launch follows a familiar script.
Another AI startup raises a massive amount of money, because that’s what AI startups do. Parag Agrawal’s new venture is now worth $200 million, which is a lot of cash for a company that hasn’t actually launched anything yet. Sequoia is leading the charge, because of course they are. And we’re all just waiting for the inevitable “AI-powered” product that will probably just be a rebranded version of something we already have.
Author: Evan Null
