Adept AI Defies Market Trends, Secures $350M in Funding

Adept.AI, a San Francisco-based startup specializing in generative artificial intelligence (AI), has raised $350 million in what it refers to as "part of our Series B."

Adept is manned by former Open AI engineers. They believe the clearest framing of general intelligence is a system that can do anything a human can do in front of a computer.

Midjourney came up with this fancy set of scary-ass images to commemorate the raise.

Nothing to worry about there…

The round, led by General Catalyst and Spark Capital, brings Adept's post-money valuation to at least $1 billion. This funding comes after the company's previous $65 million Series A round.

Adept.AI is focused on developing AI models that not only respond to text commands, like chatbots, but also translate those commands into actions.

The company's generative AI technology has the potential to assist users in tasks ranging from browsing the internet to navigating complex enterprise software tools.

In its blog, you can find interesting examples that include

✅ Manipulating cells and formulas in Excel spreadsheets

✅ Adding Leads and Opportunities to Salesforce and

✅ Searching Redfin for a home based upon user text prompts.

Dall E 2 came up with it’s own “interesting” interpretation of the future in the hands of human + Adept

In a statement from the company, they said, "Since announcing our Series A about a year ago, we introduced ACT-1, our first large model for actions, and it’s already demonstrating cutting-edge capabilities." The ACT-1 model can process complex user requests across various software tools and execute them, even coordinating tasks across multiple tools when required.

Despite challenges such as a downturn in venture financing and the collapse of Silicon Valley Bank, nothing seems to be slowing down generative AI startups from raising significant amounts of capital. The trend began in January with Microsoft's enormous $10 billion investment in OpenAI, the creator of ChatGPT.

Rival AI startup Anthropic was also reported to be raising an additional $300 million at a pre-investment valuation of $4.1 billion, just a week ago.

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Spark Capital is said to be leading the round, which comes only a month after Anthropic raised between $300 million and $400 million from Google.

Despite the rocky venture market, it appears that generative AI startups, like Adept.AI, are defying the odds and continuing to secure substantial funding. The AI craze shows no sign of slowing down, so stay tuned for more updates in the weeks to come.