SparkLabs closes $50M fund to back AI startups

Quick Summary:

SparkLabs — an early-stage venture capital firm that has made a name for itself for backing OpenAI as well as a host of other AI startups such as Vectara, Allganize, Kneron, Anthropic, xAI, Glade (YC S23) and Lucidya AI — is gearing up to double down more startups in the space.

SparkLabs did not name its limited partners, but Moon said its LPs include a government fund of funds.

Yet despite it being a global phenomenon, the U.S.overall still leads the pack for founding the most AI startups between 2013 and 2022 with 4,633 startups, according to the report.

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Article Details

Author / Journalist: Kate Park

Category: Technology

Markets: United StatesBrazilIndiaSouth KoreaSaudi ArabiaSingapore

Topics: Fundraising Artificial Intelligence (AI) AI SparkLabs Global Venture capital

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 22:00:00 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1016 words

Reading Time: 6 minutes read

Sentences: 45 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © TechCrunch

News ID: 22337809

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