🚀💰 Together raises $20 million for open-source generative AI models!
May 15 2023
Startup Together has raised a seed funding of $20m led by Lux Capital for developing open-source generative AI models. Together will build an open ecosystem which will enable users to incorporate AI into their production applications at a relatively low cost compared to big vendors through its cloud platform. By creating open source software and services, Together aims to foster greater transparency, privacy, and control in AI technology, which it considers critical factors for customer satisfaction. Though Together has not yet launched in GA, it has an extensive 40-employee team and plans to use the additional funding for further investments in R&D, infrastructure and product development.
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What does it mean?
- Seed funding: capital that is raised in the early stages of a startup's development, typically to fund initial operations and product development before generating revenue.
- Generative AI models: a type of artificial intelligence system that uses algorithms to create original output, such as text, images, or sounds.