Humane, founded by former Apple managers Imran Chaudhri and Bethany Bongiorno in 2018, raised a $100 million Series C funding round in March 2023 from investors including Microsoft, Tiger Global, and OpenAI cofounder Sam Altman. However, despite significant investment in AI-powered wearables, few products have reached consumers at scale and it's still too early to tell which companies will be successful in this market.
Key takeaways:
- AI startup Humane, known for its AI-enabled wearable pin, is reportedly seeking a buyer and is valued between $750 million to $1 billion.
- The company's wearable pin, which offers smartphone capabilities and projects an interactive screen onto users' palms, was heavily criticized at launch and deemed not ready for real-life customers.
- Despite the criticism, Humane's cofounders insist that the device and its operating system are just the beginning, with updates planned to make the pin smarter and more powerful over time.
- Humane raised a $100 million Series C funding round in March 2023 from investors including Microsoft, Tiger Global, and OpenAI cofounder Sam Altman.