Justin Fanelli says the Navy is looking to co-invest alongside venture capitalists rather than fund early-stage research alone, citing a recent $562 million autonomous refueling contract as a model for future deals.
Justin Fanelli, the Navy’s chief technology officer, describes a shift toward co-investing alongside venture capital firms rather than funding early-stage research directly, according to an interview published by TechCrunch.
The venture firm says the new fund will back early-stage founders working on artificial general intelligence and the infrastructure needed to run it efficiently, according to TechCrunch.
The Palo Alto-based AI company has secured multiple seven-figure enterprise contracts within months of its launch, according to a report.
The venture firm, a long-time backer of Elon Musk’s ventures, is returning value to its limited partners through stock rather than cash payouts, according to TechCrunch.
The AEO-focused company closed its Series D just seven months after a $96 million Series C round, according to TechCrunch.
Organizers say startups have three days left to reserve exhibit space at the October conference, which is expected to draw more than 10,000 attendees.
Five more investors join the judging panel for the startup pitch competition, as registration discounts approach a September 25 deadline.
The venture capital firm, long based on Sand Hill Road, is expanding to New York, according to a TechCrunch report.
Just three months after exiting stealth, XDOF is negotiating a new funding round that would value the robot data company at $1.2 billion, according to TechCrunch.
Bluecore Energy announced an oversubscribed $50 million seed round, months after its pre-seed funding and public debut.