Former Twitter CEO Parag Agrawal has successfully secured $30 million in funding for his new artificial intelligence (AI) startup. Agrawal, who was recently ousted by Elon Musk, the owner of Twitter (now called X), has wasted no time in entering the AI race.
The funding for Agrawal’s startup remains undisclosed, however, it has been reported that the investment was led by Khosla Ventures, a venture capital firm founded by Vinod Khosla. Khosla Ventures, known for its early support of OpenAI, has shown confidence in Agrawal’s venture. Additionally, Index Ventures and First Round Capital have also participated in the funding round.
Although specifics about Agrawal’s startup are limited, it is rumored to focus on the development of software for large language models, similar to OpenAI’s popular chatbot, ChatGPT. This suggests that Agrawal’s venture aims to tap into the growing demand for AI language processing solutions.
Interestingly, Agrawal and his former colleagues at Twitter, Vijaya Gadde and Ned Segal, recently received $1.1 million in legal fees from Musk’s X Corp. It was in October 2022 when Musk took control of Twitter, resulting in the termination of Agrawal, Gadde, and Segal’s employment. Despite their departure, the executives received substantial exit packages, with Agrawal receiving the largest payout of around $40 million.
As the AI industry continues to evolve and expand, Agrawal’s entry into the field with his new startup highlights his determination to make an impact. With the support of prominent venture capital firms, Agrawal’s venture shows promise in the competitive AI landscape. Only time will tell what innovations and developments will arise from his vision and expertise.
The source of the article is from the blog lokale-komercyjne.pl