Discovery Loop, an AI startup founded by former Google chief scientist Jeff Dean after his departure from the company, is raising a new round at a target valuation of about $50 billion, according to Business Insider. The fundraising effort comes only weeks after the company closed a $1 billion round at an approximately $10 billion valuation.
The company is focused on using AI to automate experiments and speed up major discoveries in science and engineering. Its first financing round was led by Radical Ventures and Khosla Ventures, with participation from Lightspeed and Kleiner Perkins. Alphabet was also an early backer.
Discovery Loop’s co-founding team includes several longtime Google technical leaders: Sanjay Ghemawat, Quoc Le and Oriol Vinyals. The report said the three bring deep experience in distributed computing, deep learning and reinforcement learning, respectively. The latest fundraising target points to a sharp step-up from the valuation attached to the round completed just weeks earlier.
Discovery Loop, an AI startup founded by former Google chief scientist Jeff Dean after he left the company, is in the market for a new funding round at a target valuation of about $50 billion, according to Business Insider.
The effort follows a financing completed only weeks ago, when the company raised $1 billion at an approximately $10 billion valuation.
Discovery Loop is working on using AI to automate experiments and accelerate major discoveries across science and engineering. Its first round was co-led by Radical Ventures and Khosla Ventures, with Lightspeed and Kleiner Perkins also participating. Alphabet was listed as a founding investor as well.
The startup’s co-founding team also includes Google veterans Sanjay Ghemawat, Quoc Le and Oriol Vinyals. The report said they bring deep backgrounds in distributed computing, deep learning and reinforcement learning, respectively.
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