Finance & Economics

Moonfire Raises $115 Million for AI-Centric Early-Stage Startups

Moonfire Ventures announced that it managed to attract investment funds for $115 million, which will be used to financially support startups in the field of artificial intelligence that are at the early development stage.

Moonfire Raises $115 Million for AI-Centric Early-Stage Startups

Source: Pixabay.com

This round of financing is part of a large-scale series of examples of the active interest of venture capital (VC) in the AI industry. Last Wednesday, May 24, Moonfire Ventures published a press release stating that with the help of attracted investments, the company will continue to implement its strategy aimed at integrating advanced technologies into the entire VC creation chain.

The company believes that its efforts will contribute to the beginning of an era of transformation in the field of venture capital, when artificial intelligence, a high level of machine efficiency and unique capabilities of human consciousness, capable, among other things, of making the right and appropriate to situation decisions, will be combined into a single whole.

The active development of AI-based technologies has led to the fact that politicians in many countries of the world have begun to declare the need to create a regulatory framework and regulatory instruments for this industry.

Earlier in May, EU lawmakers voted for new rules for applications whose functioning involves the use of generative artificial intelligence. Kim van Sparrentak, a member of the Dutch Green Party, said that this vote is important in the context of efforts to regulate the process of AI proliferation and a clear signal that state monitoring should be based on the goal of respecting fundamental rights. He noted that artificial intelligence should be at the service of people, society, and the environment.

Zeynep Yavuz, a fintech partner at General Catalyst, an early-stage venture capital firm, says that VC is significant support for startups that are facing stock market problems, and notes that investment in companies in the early stages of development is currently intensifying. According to Yavuz, in the current financial conditions, the firms that are closer to public markets are the most vulnerable.

As we have reported earlier, AI Startup Figure Raises $70 Million for Humanoid Robot.

 

 

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.