Poolside AI Raises $126 Million in Seed Round

by Kay Aloha Villamor in August 28th, 2023

Poolside AI, a US-based startup that wants to create a ChatGPT-like tool that can write software code, raised $126 million in seed funding. The round is a $100 million extension to a $26 million seed round announced in May.

SaaS Investors 

The funding was led by French billionaire Xavier Niel and US venture capital firm Felicis Ventures. Other investors in the round include French business angels Rodolphe Saadé and Motier Ventures, as well as institutional investors like Bpifrance, NewWave, and Frst.

Xavier Niel is a French billionaire businessman involved in the telecommunications and technology industry.

Founded in 2006, Felicis Ventures is a venture capital investment firm based in Menlo Park, California. The firm seeks to invest across all industries and sectors. The firm invests in seed through Series C stage companies across multiple sectors and industries reinventing core markets, as well as those creating frontier technologies.

About Poolside AI

Founded by Jason Warner and Eiso Kant, Poolside AI is building a foundational AI model similar to ChatGPT, but with the specific goal of enabling users to create code for building applications using plain language. Poolside AI's technology is based on a large language model (LLM) that combines code and natural language data.

Funding Details

Company: Poolside AI

Raised: $126.0M

Round: Seed Round

Funding Month: August 2023

Lead Investors: Xavier Niel and Felicis Ventures

Additional Investors: Rodolphe Saadé, Motier Ventures, as well as institutional investors like Bpifrance, NewWave, and Frst

Company Website: https://poolside.ai/

Software Category: Writing AI

Source: https://sifted.eu/articles/poolside-raises-126m-relocated-france-news

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