Open-source AI model creator Nomic raises $17 million led by Coatue

[{"selector":"#anim-87b3ecb1-c745-4352-881d-16155e13ac3d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-e81407fb-a03d-41cc-a282-3ddeef4fd934","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2d0847d-5c25-411d-8cdd-9b7017722648","keyframes":{"transform":["translate3d(0px, 203.94596%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – AI startup Nomic has raised $17 million in a funding round led by Coatue, with participation from Contrary Capital and Betaworks Ventures.

[{"selector":"#anim-7c49c5b8-bd03-4b57-83a8-5a4dbf4c5451 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-d2bfe9b2-e219-4519-beab-31b46026d04d","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7df3c4e9-9a7e-4fde-a070-a8d3e7197029","keyframes":{"transform":["translate3d(0px, 199.24484%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – The investment valued Nomic AI, a New York-based team of four, at $100 million, indicating growing interest from venture capitalists in small teams developing popular AI products.

[{"selector":"#anim-f71a76fa-1995-413b-9dd3-33823db7d42a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-0a3b2721-6062-4e3a-abe1-67efd8e2e107","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3fd5b148-4a80-4fea-9388-d22224eb9757","keyframes":{"transform":["translate3d(0px, 152.01647%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Nomic, founded in 2022, has released two products: GPT4ALL, an open-source AI model that is free to download and run on devices like laptops, and Atlas, a tool for visualizing unstructured datasets used in building large language models (LLMs).

[{"selector":"#anim-aef08f42-37e8-4d6e-ba0f-f09c1f30ff1c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-be601eb7-5957-4655-96b4-713bfaa95bb2","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74b80acf-1021-4537-a9a6-498f3a6f9d27","keyframes":{"transform":["translate3d(0px, 199.24484%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – The company aims to enhance dataset visibility in model training and democratize access to AI models, allowing users to understand the data used in those systems.

[{"selector":"#anim-dce6c11f-03ad-4334-89cc-6764db2f8700 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-569f39a3-2b03-4cb1-963e-f0e0d6814f0e","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdfb3c79-61f3-482a-a535-e5881e732115","keyframes":{"transform":["translate3d(0px, 244.31223%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Nomic's products have been utilized by over 50,000 developers, including those from companies like Hugging Face. It has partnerships with MongoDB and Replit.

[{"selector":"#anim-e3952c68-eefb-49cb-9cab-6eb7c4b9e895 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-e2568d9e-f1a2-4a6e-bf29-d0e572df9f88","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b1f0d193-42d2-432b-87d9-9c2a5d2c0648","keyframes":{"transform":["translate3d(0px, 199.24484%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – Open-source models serve as alternatives to proprietary models from AI labs such as OpenAI and Google, as global researchers collaborate to develop models that can rival GPT-4.

[{"selector":"#anim-a2da7e3f-a99c-4667-9974-e73bfaa958ec [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.86081915179097%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-13cda643-40be-4b59-bfbd-ece32951856b","keyframes":{"opacity":[0,1]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-709c8ec1-36f3-49fb-a7ae-8b8ecc978c52","keyframes":{"transform":["translate3d(0px, 199.24484%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] – The investment by Coatue, a venture capital firm, aligns with its series of investments in open-source AI startups, including Stability AI, Hugging Face, and Replit.