AI Startup Adept Raises $350 Million In Fresh Funding
Adept, an artificial intelligence (AI) startup, has raised $350 million in a Series B funding round led by General Catalyst and Spark Capital.
As per the startup, the freshly raised funds will be used to launch its initial products, train models, and recruit more AI talent.
Adept | Useful General Intelligence
Founded by former Google researchers, Adept is an ML research and product lab building general intelligence by enabling humans and computers to work together creatively. The startup focuses on training a neural network to perform general tasks for enterprise clients.
Adept is building an entirely new way to get things done. The startup has been working with companies to use its data to help create a natural language interface to access existing software such as Adobe Photoshop and Airtable.
Speaking about the development, the company in a post stated,
“Since announcing our Series A about a year ago, we introduced ACT-1, our first large model for actions, and it’s already demonstrating cutting-edge capabilities. It can take complex user requests across a range of software tools and execute them, even coordinating across multiple tools when needed.”
ACT-1 is Adept’s first step towards a foundation model that can use every software tool, API and website that exists. The model has been designed and trained specifically for taking actions on computers in response to natural language commands. In April 2022, the startup raised $65 million in funding.
Commenting on the development, Deep Nishar, Managing Director at General Catalyst, said,
“Adept’s language models are geared towards creating ‘actions’ instead of generating text. This automation of actions enables an enterprise’s knowledge workers to be a lot more efficient and effective.”
The wave of AI has been rising for a while, but the craze reached a level higher with news of Microsoft’s enormous $10 billion investment into OpenAI — the creator of ChatGPT. As per a report, a rival to ChatGPT and Adept and, Anthropic, was raising another $300 million round at a pre-investment valuation of $4.1 billion.
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