🚨 Stability AI raises $50M from Intel

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Top picks

A quick highlight

Stability AI

Amount: $50M 🎉

Round: Convertible Note

Lead Investor: Intel Corporation

Stability AI aims to accelerate open-source, foundational AI. They are committed to independence, with no external parties having voting rights or control over the company.

They fund the development of open-source music- and image-generating systems like Stable Diffusion.

Deep Infra

Amount: $8M 🎉

Round: Seed

Lead Investors: A.Capital Ventures, Felicis

Deep Infra aims to provide CPUs and a low-cost way of deploying trained ML models.

They offer a service to set up and run LLM chatbots on private servers for businesses. They provide this service at a significantly lower cost ($1 per 1 million tokens) compared to competitors like OpenAI's GPT-4 Turbo ($10 per 1 million tokens) or Anthropic’s Claude 2 ($11.02 per 1 million tokens). They plan to offer a range of open-source model inferences, including Meta’s Llama 2 and CodeLlama, as well as variants and tuned versions of these models.

Evolv AI

Amount: 13.3M 🎉

Round: Venture Round

Lead Investor: Horizons Ventures

Evolv AI aims to automate the entire design thinking process, from understanding consumers’ needs to defining common problems to ideating, creating, deploying, and optimizing solutions that impact customer behavior.

The 3 main AI features on their core platform include:

Description-to-Design: Modify any HTML (or CSS and HTML) property of their website using a single text prompt.

Text Paraphrasing: Generates variations of existing copy or creates a net new copy.

AI Image Design: Create, crop, and resize unique images for digital experiences.

Heali

Amount: $3M 🎉

Round: Seed

Lead Investor: Astanor Ventures

Heali is an AI-based nutrition and meal-planning app.

It helps people adhere to their choice of 30 different diets through recipes as well as grocery shopping and restaurant meal selection guidance1. It uses features like optical character recognition (OCR) and a barcode scanner to understand what ingredients are in a food item. It also has a meal planner, which analyzes the nutritional makeup of hundreds of thousands of recipes, products, and meals to provide nutritional guidance. See their pitch deck

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