21.7 C
Los Angeles
Sunday, June 23, 2024

Ilya Sutskever Isn’t Done Working on AI Safety

Ilya Sutskever, the co-founder and Chief Scientist...

French AI Startup H Secures Record $220M Seed Round

BusinessFrench AI Startup H Secures Record $220M Seed Round

In a remarkable feat for the startup world, Paris-based AI company H, formerly known as Holistic AI, has shattered records with a staggering $220 million seed funding round mere months after its inception.

Led by a powerhouse team of AI experts, H has attracted significant investment due to its innovative approach and formidable founding members. Notably, CEO and co-founder Charles Kantor brings invaluable experience as a former Stanford University researcher, while the remaining co-founders boast impressive backgrounds at DeepMind, the renowned AI company acquired by Google.

The team includes Karl Tuyls, a former research director at DeepMind specializing in game theory and multi-agent research; Laurent Sifre, a principal scientist with contributions to flagship DeepMind projects such as AlphaGo and AlphaFold; Daan Wierstra, a founding member at DeepMind; and Julien Perolat, who also worked on game theory and multi-agent research at DeepMind.

H’s focus lies in developing AI agents—automated systems designed to perform tasks traditionally undertaken by human workers. With a mission to enhance workforce productivity, the company aims to pioneer frontier action models.

The seed round boasts an impressive roster of investors, including prominent billionaires and their family offices, well-known venture capital firms, and strategic backers. Notable names on the investor list include Eric Schmidt, Xavier Niel, Yuri Milner, Bernard Arnault (via Aglaé Ventures), and Motier Ventures (owners of the Galeries Lafayette Group).

Venture capital firms such as Accel, Bpifrance’s Large Venture fund, Creandum, Elaia Partners, Eurazeo, FirstMark Capital, and Visionaries Club have also contributed to the substantial funding. Additionally, industrial investors like Amazon, Samsung, and UiPath—a major player in robotic process automation—underscore the strategic significance of H’s endeavors.

The funding structure, comprising both equity and convertible debt, reflects investors’ confidence in H’s potential. While traditional equity investments account for 40% of the seed financing, the remainder will be converted to equity in subsequent funding rounds, aligning with the company’s future valuation.

Bolstered by a team of 25 engineers and scientists, H is poised for rapid expansion. The startup’s ambitious roadmap includes achieving artificial general intelligence (AGI), a milestone that signifies AI’s capability across diverse tasks comparable to human intelligence.

Paris’ burgeoning AI ecosystem, complemented by access to funding and established tech giants’ presence, positions H for success in the competitive AI landscape. As the company strides towards groundbreaking innovation, its record-setting seed round heralds a new era of AI advancement with global implications.

Check out our other content

Check out other tags:

Most Popular Articles