AI2 Incubator, a Seattle, WA-based studio that creates, launches and invests in AI-first tech startups, raised a $10M fund.
Backers included venture capital firms Madrona Venture Group, Sequoia, Kleiner Perkins, and Two Sigma Ventures, along with a number of entrepreneurs and executives.
The AI2 Incubator, created by the Allen Institute for AI (AI2), helps engineers and entrepreneurs build AI-first products with access to over 100 scientific and engineering talent in the field of AI.
Each year, the AI2 Incubator invites world-class engineers and entrepreneurs to join on a rolling basis, helping them come up with ideas, find co-founders, engage pilot customers, define their product, incorporate the latest A.I. techniques into their technology, and raise venture capital funding.
To date, companies including XNOR.ai (acquired by Apple), KITT.ai (acquired by Baidu), Lexion.ai, WellSaidLabs, Blue Canoe, and others have already raised over $32.5M. The AI2 Incubator is open to high potential founders from a variety of backgrounds. This includes serial entrepreneurs, technical leaders who have built teams and shipped products, and PhD’s with an interest in entrepreneurship.
The new fund brings additional resources to support these efforts and includes investors with decades of experience helping launch companies that make an impact on the world.
For more information on the AI2 Incubator please visit: https://incubator.allenai.org.