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AI startup Emergence AI raises a ton of cash to enhance office worker productivity - SiliconANGLE

Jun 25, 2024 - siliconangle.com
AI startup Emergence AI has raised $97.2 million in a funding round led by Learn Capital, with additional lines of credit totaling over $100 million. The company, a division of educational chatbot firm Merlyn Mind Inc., is developing an "agent-based" AI system, known as "Agent E", which can perform tasks typically done by knowledge workers, such as completing forms and searching for products on retail websites. The system uses third-party models, like OpenAI’s GPT-4o, to perform these tasks.

Emergence's CEO, Satya Nitta, describes Agent E as an "orchestrator" that processes user requests and finds the most suitable large language model to complete the task. While the tool is currently open-source, the company plans to monetize it through a premium, subscription-based application programming interface. Emergence has already formed strategic partnerships with Samsung Electronics and Newline Interactive, with plans to integrate its AI tech into their products.

Key takeaways:

  • AI startup Emergence AI has raised $97.2 million in a funding round led by Learn Capital, and secured lines of credit totaling over $100 million.
  • The company's main project, Agent E, is an AI system that automates tasks such as completing forms and searching for products on retail websites.
  • Emergence plans to monetize its orchestrator tool through a premium, subscription-based application programming interface, capable of performing almost any work-related task.
  • The startup has entered into strategic partnerships with Samsung Electronics and Newline Interactive, planning to integrate its AI orchestrator tech into their products.
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