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Decart adds $32M at a $500M+ valuation to build AI tech and 'open world' apps | TechCrunch

Dec 19, 2024 - techcrunch.com
Decart, a young AI startup, has quickly gained attention after emerging from stealth with significant backing and ambitions to create a vertically integrated AI research lab. The company, co-founded by Dean Leitersdorf, focuses on optimizing GPU use for AI models, which has already generated millions in revenue. Decart's first consumer product, Oasis, an AI-driven "open world" model, has attracted millions of players. Recently, Decart raised $32 million in a Series A funding round led by Benchmark, following a $21 million seed round from Sequoia and Zeev Ventures. The company's valuation has surged to over $500 million, with aspirations to become a trillion-dollar enterprise.

Decart's primary areas of focus include systems, models, and data, with its optimization software significantly reducing AI operational costs. Despite its profitability and market interest, Decart's main goal is to develop more consumer-oriented AI experiences like Oasis. The company aims to create generative AI applications that enhance interactivity, potentially in AR or VR, without relying on specific hardware. While Decart is rapidly growing, it currently lacks a strategy for preventing misuse of its technology, focusing instead on expanding its user base and revenue.

Key takeaways:

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  • Decart, a young AI startup, has raised $32 million in a Series A funding round led by Benchmark, with a post-money valuation of over $500 million.
  • The company focuses on three primary areas: systems (infrastructure optimization), models (AI algorithms), and data (applications that ingest and return data).
  • Decart's first enterprise product optimizes GPU use, significantly reducing operational costs for AI models, and is already generating millions in revenue.
  • Decart's consumer product, Oasis, is a playable AI model with millions of users, and the company plans to expand its offerings with more generative AI experiences.
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