Adaptive ML, headquartered in New York with its technical team based in Paris, intends to use part of the funding to open an R&D centre in Paris. The company also plans to recruit a dozen employees in the coming year to join the R&D team. The startup's business model involves charging customers $120k-360k in annual recurring revenue for ongoing use of its platform, and up to $1m for custom models.
Key takeaways:
- AI startup Adaptive ML has raised a $20m seed round to build custom-made generative AI models for businesses. The round was led by Index Ventures, with participation from US investor ICONIQ, Motier Ventures, VC IRIS, Xavier Niel and HuggingFund by Factorial.
- The startup raised a $100m valuation and its founding team includes several engineers and researchers from French-founded open source AI platform Hugging Face.
- Adaptive plans to help businesses use open source generative AI models to build tools that are adapted to their specific use cases. The company will build personalised models for its customers and continually improve those models by integrating user feedback.
- Although Adaptive is headquartered in New York, the majority of its technical team is based in Paris. The company plans to use part of the funding to open an R&D centre in Paris and recruit a dozen employees in the coming year.