World Labs, Founded by AI Pioneer Fei-Fei Li, Raises $100 Million in New Funding Round Led by NEA
San Francisco, CA- World Labs, the AI startup founded by renowned computer scientist Fei-Fei Li, has secured a $100 million investment in a new fundinground led by venture capital firm NEA. The investment brings the company’s valuation to over $1 billion, solidifying its position as a leading player in therapidly evolving AI landscape.
This latest investment follows two previous funding rounds completed within a span of two months, attracting top-tier investors including Andreessen Horowitz (a16z) and AI-focused fund Radical Ventures. The news ofthe NEA-led round was first reported by TechCrunch, confirming earlier reports by the Financial Times in July.
World Labs, established in April 2023, aims to develop AI models capable of accurately estimating the three-dimensionalphysical properties of real-world objects and environments. This technology, known as spatial intelligence, has the potential to revolutionize industries ranging from robotics and autonomous vehicles to virtual and augmented reality.
We are excited to partner with NEA and our other investors as we build the future of spatial intelligence, said Fei-Fei Li, who serves as the company’s Scientific Partner. Our goal is to create a world where AI can understand and interact with the physical world in a truly meaningful way.
The company’s focus on spatial intelligence is particularly timely, as the demand for three-dimensional data is rapidly increasing. Companies likeself-driving car manufacturers are investing heavily in collecting and analyzing 3D data to train their AI systems. However, gathering this data is costly and time-consuming, particularly in environments with limited existing data.
World Labs’ approach aims to address this challenge by developing AI models that can learn from limited data and accuratelyestimate the physical properties of objects and environments. This could significantly reduce the cost and time required to create detailed digital replicas of the real world.
World Labs is tackling a critical challenge in the AI industry, said Scott Sandell, Managing General Partner at NEA. Their innovative approach to spatial intelligence has the potential tounlock a wide range of applications across various sectors.
The company’s recent funding success reflects the growing interest in AI startups founded by prominent figures in the field. World Labs joins a growing list of AI companies, including OpenAI, which have secured significant investments in recent years.
Li’s departure from Stanford Universityin January 2023 to pursue a two-year sabbatical sparked speculation about her future endeavors. Her LinkedIn profile update, referencing new things, hinted at her involvement in a new project, which ultimately materialized as World Labs.
The company’s vision for spatial intelligence aligns with Li’s previous workin developing AI systems that can understand and interpret visual information. Her contributions to the field of computer vision, particularly her work on the ImageNet project, have been instrumental in advancing the capabilities of AI systems.
As World Labs continues to develop its technology, the company is poised to play a significant role in shaping the futureof AI and its impact on various industries. The company’s focus on spatial intelligence, coupled with Li’s expertise and the support of prominent investors, suggests a promising future for World Labs and its potential to revolutionize the way we interact with the physical world.
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