Tuesday, 18 March 2025
26.7 C
Singapore
30.5 C
Thailand
26.6 C
Indonesia
26.8 C
Philippines

How OpenAI is shaping the future with its startup investments

OpenAI’s Startup Fund has backed multiple AI-driven startups across industries, raising millions to support innovation in robotics, healthcare, and more.

Since its launch in 2021, the OpenAI Startup Fund has raised US$175 million for its main fund and an additional US$114 million through five special purpose vehicles—investment pools created for specific opportunities.

Unlike other large tech companies, OpenAI does not invest in startups using its own money. Instead, the OpenAI Startup Fund is backed by external investors, including Microsoft, one of OpenAI’s biggest supporters, along with other OpenAI partners, according to the fund’s website.

How OpenAI is investing in startups

OpenAI has backed companies across a range of industries, including robotics, healthcare, education, and legal tech. Here are some of the key startups that have secured investment from the OpenAI Startup Fund:

  • 1X – A Norwegian robotics company that raised US$23.5 million in early 2023, with OpenAI’s fund and Tiger Global’s leading investment. However, OpenAI was not named as a backer in its US$100 million Series B round in January 2024.
  • Ambience Healthcare – An AI-powered medical note-taking startup that secured US$70 million in a Series B round in February 2024, co-led by OpenAI’s fund and venture capital firm Kleiner Perkins.
  • Chai Discovery – A biotech startup focusing on AI-driven drug discovery, which secured US$30 million in a seed round in September 2023.
  • Descript – An AI-driven audio and video editing platform that raised US$50 million in a Series C round led by OpenAI’s fund in late 2022.
  • Figure AI – A robotics company focused on AI-driven humanoid robots, which raised US$675 million in a Series B funding round in February 2024. The deal valued Figure AI at US$2.6 billion.
  • Harvey AI – A legal tech startup that raised US$21 million in a Series A round in April 2023, with backing from OpenAI’s fund. The fund also participated in later rounds, including a US$300 million Series D in May 2024, which valued Harvey AI at US$3 billion.

The impact of OpenAI’s investments

OpenAI’s financial backing is helping startups develop cutting-edge AI applications across different sectors. Companies like Ambience Healthcare and Harvey AI use AI to transform industries such as medicine and law, while robotics firms like 1X and Figure AI are advancing automation and humanoid robotics. The investments indicate OpenAI’s strategy of supporting innovative startups that align with its vision of AI-driven progress.

What’s next for OpenAI’s Startup Fund?

With a growing portfolio of funded companies, OpenAI’s Startup Fund continues to expand its influence. Its investments in AI-driven startups highlight its commitment to shaping the future of artificial intelligence. As more startups emerge, OpenAI will likely continue to invest in new ventures that push the boundaries of AI technology.

Hot this week

Discord unveils new toolkit to enhance social features in games

Discord introduces a free Social SDK that helps developers integrate social features like friends lists, invites, and chat into their games.

James Dyson Award opens for 2025, celebrating 20 years of innovation

The James Dyson Award 2025 opens for submissions, celebrating 20 years of supporting young inventors with funding and global recognition.

Meta introduces new fact-checking system for Facebook, Instagram, and Threads

Meta is launching Community Notes on Facebook, Instagram, and Threads in the US on March 18, aiming to improve fact-checking with a crowdsourced system.

ChopNow expands BNPL services with new retail partnerships in Singapore

ChopNow expands its BNPL services in Singapore with new retail partners, offering more flexible payment options for furniture, home décor, workspaces, and e-bikes.

IT leaders accelerate AI PC adoption despite security and infrastructure concerns

A new AMD and IDC survey reveals that 82% of IT leaders plan to adopt AI PCs by year-end, despite security and infrastructure concerns.

Nominations open for 4th edition of Singapore 100 Women in Tech Awards

Nominations for the 4th Singapore 100 Women in Tech Awards are open, celebrating women in tech. Submit nominations by 30 April 2025.

IT leaders accelerate AI PC adoption despite security and infrastructure concerns

A new AMD and IDC survey reveals that 82% of IT leaders plan to adopt AI PCs by year-end, despite security and infrastructure concerns.

Samsung to launch Galaxy A56 5G and Galaxy A36 5G in Singapore on 28 March

Samsung will launch the Galaxy A56 5G and A36 5G in Singapore on 28 March 2025, featuring AI tools, upgraded cameras, and exclusive launch promotions.

Airwallex partners with Discover Global Network to expand payment options

Airwallex partners with Discover Global Network, allowing merchants to accept Discover and Diners Club International cards, reaching 345 million cardholders.

Related Articles

Popular Categories