Generative AI technology is increasingly fueling investor interest.

AI VC Investment

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13:59 | 27 April 2023

Generative AI technology is increasingly fueling investor interest.

Replit $97.4 M

Replit, an IDE that develops an artificial intelligence-based code generation tool called Ghostwriter, raised $97.4 million this week, raising a valuation of $1.16 billion.
The round was led by Andreessen Horowitz, with participation from Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures and Hamilton Helmer.

The investment will be used to further develop the core product as well as to drive innovation in artificial intelligence.

Replit offers an online collaboration IDE that supports a number of programming languages, including JavaScript, Python, Go and C++. With Replit, users can share a workspace with one or many users and see real-time edits to files, send messages to each other, and debug code together.  Users can also share projects, ask for help, learn, and use templates.
But perhaps the main feature of Ghostwriter is a set of features based on artificial intelligence.

San Francisco-based Replit was founded by programmers Amjad Masad, Faris Masad and designer Haya Oded in 2016.

Pinecone $100 M

New York-based vector database startup Pinecone has raised a $100 million Series B and a $750 million valuation. The round was led by Andreessen Horowitz with participation from Iconiq Growth and previous investors Menlo Ventures and Wing Venture Capital.

The company’s vector database allows engineers to work with data derived from large language models and models related to artificial intelligence. Vector databases are easily searchable and provide the flexibility engineers need to build commercial AI applications.

We hope you found the information useful. Stay tuned for more information.

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