A Paris-based artificial intelligence (AI) startup called Holistic has reportedly raised $200 million in the first tranche of an initial funding round.
The firm was formed by scientists who left DeepMind and aim to develop “multi-agent” models in which several AI systems interact with one another, Bloomberg reported Tuesday (May 7), citing unnamed sources.
When reporting on the possible formation of this AI startup in January, Bloomberg said that this startup is different from the London-based enterprise software business Holistic AI.
With its new funding, the Paris-based Holistic will buy computing power, according to the Tuesday report.
The startup aims to train an AI model that will have skills that other models have struggled with — including memory and planning — and target multiple markets and revenue streams, the report said, citing an investor presentation seen by Bloomberg.
Its funding round values Holistic at $370 million, the report said.
It was reported in April that another French AI startup, Mistral AI, is exploring a funding round that would value it at $5 billion.
Mistral AI was valued at about $2 billion in December after raising $415 million. The company also raised $113 million in what was dubbed at the time as Europe’s largest-ever round of seed funding.
Companies and investors are bullish on AI because they see it as a game-changing innovation that could transform entire industries, generate economic value and provide powerful competitive advantages, PYMNTS reported in March.
In December, it was reported that Essential AI emerged from stealth with $56.5 million in new funding and technology that can use AI for corporate functions like data analysis and automate monotonous tasks. This AI startup was founded by two veterans of Google.
In April, health systems technology firm Kontakt.io raised $47.5 million to expand its AI solution that it said, “enables health systems to optimize patient, staff and resource flows, improving safety, coordination and service delivery.”
“Clinical staff, the key asset of health systems, must be freed to focus on their single most important job: providing patient care,” Philipp von Gilsa, CEO of Kontakt.io, said at the time in a press release.