Two companies, Magic and Codeium, confirmed fundraises of $320 million and $150 million, respectively. The two are among a larger cohort of recently funded companies aiming to add efficiency and alleviate pain points for the code development process with AI-enabled tools. San Francisco-based Magic, which develops AI models to write software, said the new financing included backing from new investors Eric Schmidt, Jane Street Capital, Sequoia Capital and Atlassian Ventures. To date, the 2-year-old startup has raised over $465 million, according to Crunchbase data. Codeium, which is based in San Jose, California, and is working on an AI coding assistant, said funding for its just-closed Series C came from lead investor General Catalyst, alongside Kleiner Perkins and Greenoaks. The 3-year-old company says it is working on tools to improve code quality while also reducing cost and development time. The financings came amid a busy period for funding rounds around artificial intelligence...
learn more
Ratings & Reviews
Entrepreneur & Investor
YOU MIGHT ALSO LIKE