Reported 11 months ago
Artificial intelligence startup iGenius, aiming to rival OpenAI, is seeking to raise €650 million at a post-money valuation of €1.7 billion. The Italian company has already secured backing at a pre-money valuation of €1.05 billion from investors such as Angel Capital Management and Eurizon Asset Management and is working towards reaching €20 million in annual recurring revenue by the end of 2024. iGenius focuses on an open-source foundational large language model called 'Italia' for organizations in the financial services sector.
Source: YAHOO