Reka, an AI model startup founded by former researchers at Alphabet’s DeepMind, has successfully raised $50 million in funding. The funding round was led by prominent investors including Snowflake and DST Global, the venture fund of Yuri Milner, an early backer of Facebook and Twitter.
Despite having no revenue yet, the funding round has valued Reka at about $300 million. The startup’s ability to secure such significant funding without any revenue highlights the immense potential investors see in its technology and business model.
Reka is leveraging the power of artificial intelligence to create a new generation of AI models. The details of its business model and the specific applications of its AI technology are yet to be disclosed. However, the involvement of former DeepMind researchers in its founding team suggests that the startup could be working on cutting-edge AI technologies.
The successful funding round marks a significant milestone for Reka. The funds raised will likely be used to further develop its AI technology, expand its team, and potentially explore new applications for its AI models.
The investment in Reka underscores the growing interest in AI startups, even those in the early stages of their development. Investors are increasingly recognizing the transformative potential of AI and are willing to back startups that are pushing the boundaries of this technology.
As Reka continues its journey, it will be interesting to see how it leverages its AI technology to create innovative solutions and generate revenue. The startup’s progress will also provide valuable insights into the evolving landscape of AI technology and its commercial applications.