Adept, an artificial intelligence (AI) business, said earlier this week that it had raised USD 350 million in a Series B fundraising round headed by General Catalyst and Spark Capital. According to media reports, the company intends to utilise the fresh capital to launch its initial products, train models, and hire more AI experts.
Adept, which was founded by ex-Google researchers, focuses on training neural networks to execute common tasks for enterprise clients. It has been collaborating with businesses to harness their data to develop a natural language interface for existing products such as Adobe Photoshop and Airtable.
The business had previously raised USD 65 million in investment in April 2022. Adept did not disclose its worth, according to media report.
The startup has had significant management reshuffles as co-founders Niki Parmar and Ashish Vaswani left the company, yet this did not dissuade significant investment interest.