AI Fintech Black Ore Raises $60 Million in Deal Led by Andreessen Horowitz
Nov 07, 2023 - news.bensbites.co
Black Ore Technologies Inc., an Austin-based startup developing AI tools for the financial services industry, has secured $60 million in funding as it comes out of stealth mode. The announcement is expected to be made on Tuesday. This follows a trend of AI startups raising significant funds in their early stages, such as London's Stability AI with a $101 million seed round and Paris's Mistral AI with $113 million in its first funding deal.
These figures are notably higher than the typical seed and Series A funding rounds, which are usually less than $20 million according to PitchBook data. This indicates a growing investor interest and confidence in AI startups, even in their nascent stages.
Key takeaways:
Black Ore Technologies Inc., an AI startup for the financial services industry, is announcing a $60 million funding round.
The Austin-based company is the latest AI startup to raise significant funding in its early stages.
Last October, London-based Stability AI raised a $101 million seed round, and Paris-based Mistral AI raised $113 million earlier this year.
Typically, seed and Series A rounds for such companies are less than $20 million, according to PitchBook data.
