Bay Area I-Corps alum Nomic AI raises a Series A

Led by Coatue with participation from Contrary Capital, Betaworks Ventures, SV Angel, Story Ventures, and Factorial Capital, Nomic AI raised a 17M Series A round.

Nomic said its goal is to boost the visibility of datasets in model training, and democratize access to AI models. The fast moving startup wants to ensure everyone can benefit from generative AI, hence its efforts at creating a “vibrant, collaborative and open-source ecosystem.” The founders state that freely accessible code, datasets, documentation and model weights are essential for auditability and explainability of AI models.

"We want to allow people to have access to the most powerful models that are specialized for the use cases they care about, and to build those systems themselves. They need to be able to understand what data goes into those systems," said Andriy Mulyar, co-founder at Nomic AI, who plans to use the funding for hiring and product development.

https://finance.yahoo.com/news/ai-startup-nomic-raises-17-000409855.html#:~:text=Nomic%20AI%20is%20the%20latest,investors%20led%20by%20Coatue%20Management.