Finance & Economics

Adept Raises $350 Million

Adept, a startup that creates artificial intelligence, announced that it managed to attract investment funds for $ 350 million following the results of the Series B funding round.

Adept Raises $350 Million


This startup creates artificial intelligence that provides creative interaction between people and computers to solve problems. General Catalyst, Spark Capital, Greylock, Atlassian Ventures, Microsoft, Nvidia, Workday Ventures, Caterina Fake, Frontiers Capital, PSP Growth, SV Angel, and A. Capital participated in the financing round, following as a result of which the firm attracted investments.

The total amount of investment funds that the startup managed to attract is $ 415 million. Co-founder and CEO of the company David Luan says that the funds are used to modernize production, train models, and increase the number of employees. He also noted that the basic models for language and images have demonstrated impressive capabilities over the past few years. Adept develops these capabilities.

The strategic goal of the startup is to create an artificial intelligence team partner that can use a wide range of different software tools and APIs. Unlike OpenAI and Stability AI, Adept focuses not on generating texts and images, but on studying human-computer interaction scenarios. This strategy aims to turn text instructions into a set of digital tools.

Adept is not the only firm focused on studying human behavior when interacting with a computer. In February 2022, DeepMind scientists asked artificial intelligence to observe keyboard and mouse commands from people performing computer tasks according to instructions, such as booking airline tickets.

In the field of developments related to the use of artificial intelligence, there is an increase in competition. Investors do not consider this circumstance as an obstacle to the provision of financing. During a survey of artificial intelligence specialists conducted by Intel almost 50% predicted the growth of investment in this industry.

MVP Adept, dubbed ACT-1, can perform several tasks, including importing LinkedIn URLs into recruiting software. This digital product is displayed as an overlay window on top of existing software, such as Google Chrome or Salesforce. The prototype is ready for use on personal desktop computers, and a version for mobile devices will appear shortly.

Deep Nishar from General Catalyst stated that Adept has extensive experience in creating a commercial product that expands the scope of generative artificial intelligence beyond text and graphic modalities into the sphere of actions of knowledge workers.

As we have reported earlier, Morgan Stanley and Stripe Tap Into OpenAI’s GPT-4.