Blog posts

May 20, 2024

Paris Vies for Europe's AI Crown as Key Conference Beckons

Media
Authors
Martin Coulter
Editors
No items found.
Acknowledgements

The following is an excerpt from a Reuters article. Read the full story here.

BUZZIEST COMPANIES

In the 18 months since ChatGPT sparked the generative AI craze, some of the most lucrative fundraising rounds have been raised by Paris-based companies.

Some of Paris' buzziest companies were founded by former researchers at industry stalwarts like Google DeepMind (GOOGL.O), such as Mistral AI and Holistic AI.

Last September, Julien Launay quit his job at Hugging Face, a leading French-American AI firm, to launch his own startup, Adaptive ML, which helps other companies build their own generative AI tools, and has staff in Paris and New York.

The company raised $20 million less than six months later, in a round led by California-based ICONIQ Capital and Index Ventures, which has headquarters in both London and San Francisco.

"ICONIQ and Index were the two major investors, but if you look at the smaller ones we tried to get a lot of French backers on board because we thought that was a good move," Launay said. "France has a lot of talent, and a lot of startups but in terms of funds, there's still quite a bit less than the U.S."

Copyright © 2024

Adaptive ML, Inc.
All rights reserved