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Eye On AI: Bain Capital Ventures Launches BCV Labs In Search Of New AI Deals

Nov 16, 2023 - news.crunchbase.com
Bain Capital Ventures (BCV) has launched BCV Labs, an AI incubator program aimed at identifying and investing in promising AI startups. The incubator, developed by BCV investors Aaref Hilaly and Rak Garg, offers resources such as access to AI tech infrastructure and networking opportunities. BCV Labs has already incubated several ventures, including Contextual AI, which received $20 million in seed funding led by BCV.

In other AI news, Google is reportedly in talks to invest hundreds of millions in AI chatbot startup Character.ai. YouTube co-founder Chad Hurley has also raised a seed round for his new AI startup, EyeTell, which uses AI to generate short-form video scripts and content. The amount and valuation of the seed round have not been disclosed.

Key takeaways:

  • Bain Capital Ventures has launched BCV Labs, an AI incubator program, to help investors find the right AI startups.
  • The lab offers an AI fellows program for entrepreneurs with AI or deep domain knowledge, and a leaders program for those with market know-how.
  • BCV Labs provides resources such as access to AI tech infrastructure and a network of partners and agreements in the tech industry.
  • Contextual AI, a workplace generative AI startup, got its start at BCV Labs and BCV led its $20 million seed round. Two other companies, currently in stealth, were also incubated out of BCV Labs.
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