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April 30, 2024 - Deals
Cognition Labs Secures $175 Million Funding Led By Founders Fund At $2 Billion Valuation
San Francisco-based AI startup Cognition Labs recently secured a staggering $175 million in a funding round led by Founders Fund, catapulting its valuation to $2 billion. The six-month-old company, founded by coding wizards Scott Wu, Walden Yan, and Steven Hao in November 2023, made waves with its AI-powered coding assistant, Devin. This funding surge, coming just a month after Founders Fund led Cognition’s Series A round at a $350 million valuation, underscores the burgeoning interest in AI-powered tools for software development. Devin, unlike competitors such as GitHub Copilot or Amazon Code Whisperer, operates autonomously, handling entire development projects independently. Despite initial skepticism, Devin’s capabilities have impressed, achieving a 13.86% accuracy in resolving issues unassisted, according to the SWE-Bench benchmark. With this fresh investment, Cognition Labs is poised to further develop its innovative product and consolidate its position in the burgeoning AI-assisted software development landscape.
HQ: #SanFrancisco #California
#VentureCapital #ScottWu #WaldenYan #StevenHao #CognitionLabs #FoundersFund #TradedVC
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Ramp Acquires Router.com To Launch AI Model Routing PlatformRamp acquired router.com and launched Router.com, an AI model routing platform designed to help companies reduce rising AI infrastructure costs by automatically selecting the lowest-cost model that meets performance requirements. Built internally over three years, Router has helped Ramp cut its own inference costs by about 30% and customers using the platform have reduced AI spending by 40% on average; Ramp did not disclose a funding raise related to the launch.
FOUNDERS: Eric Glyman, Karim Atiyeh & Gene Lee
HQ: New York City, New York
#VentureCapital #Ramp #Routercom #TradedVC
Asymm Secures $51 Million Investment From Khosla Ventures Interlagos Cantos AE Industrial Partners Hillspire Mantis Space CapitalAsymm has raised $51 million to build the foundation for a more stable world, with the round backed by Khosla Ventures, Interlagos, Cantos, AE Industrial Partners, Hillspire LLC, Mantis and Space Capital. Announcing the raise, the company said "Peace is possible" and framed the funding as the start of a broader effort, with more announcements expected to follow.
INVESTORS: Khosla Ventures, Interlagos, Cantos, AE Industrial Partners, Hillspire LLC, Mantis & Space Capital
AMOUNT: $51,000,000
#VentureCapital #Asymm #TradedVC