Accel

Headlines · 5

1. 20h
   RapidCanvas raises $29M Series B for enterprise AI apps

   Austin-based RapidCanvas said it raised $29 million in Series B funding led by Vertex Ventures SEA & India, with Hitachi Ventures joining and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures also participating, bringing total funding to $52.5 million after a $16 million Series A in December 2024. The company pairs an AI agent platform with its own field engineers to build and run custom AI applications for companies, connecting to and updating business software such as CRM and ERP systems, and says its Enterprise Context Engine stores a client's business rules and definitions while an Operational Harness checks application reliability per use case. RapidCanvas said annual recurring revenue grew eightfold over the past six quarters and that more than 75 companies have used its apps this year, but it did not disclose revenue figures or its valuation; the money will fund AI engineering hires in the US, Brazil and India plus sales and private equity partnerships.

   Techmeme · 🔥 23
2. 3d
   Modal raises $750M Series D at $15.75B valuation, tops $1B ARR

   AI infrastructure company Modal said it raised a $750 million Series D at a $15.75 billion post-money valuation, led by Accel with Kleiner Perkins joining and existing investors including Menlo Ventures, General Catalyst, Redpoint, Lux Capital and Bain Capital Ventures participating. The company said it has crossed $1 billion in annualized run rate, that usage has tripled in the five months since its Series C and grown more than 15x year over year, and that its Sandboxes product alone runs at roughly a $300 million annual rate with close to 3 billion sandboxes started since 2023. It lists customers such as DoorDash, Ramp, Linear, Cognition and Runway, alongside robotics firms Physical Intelligence and 1X training robots on its platform.

   Modal Blog · 🔥 3
3. 3d
   Scuba raises $34M to build a shared memory hub for humans and AI agents

   Scuba, which is building a "context engine" designed to serve as a shared memory hub for human workers and AI agents, has raised $34 million across pre-seed and seed rounds, according to Alex Konrad of Upstarts Media. Investors include Accel, IVP and startup CEOs such as Stripe's Patrick Collison. The company was founded by Noah Desai Weiss and Dolapo Falola.

   Techmeme · 🔥 0
4. Oct 9
   Sabi's non-contact EEG cap turns silent thought into text

   Palo Alto startup Sabi is building a wearable brain-computer interface called the Sabi Cap: a hat lined with in-house, non-contact EEG chips fabricated by TSMC that pick up brain activity and decode internal speech into text on a screen, with no implant or surgery. Sabi says its Brain Foundation Model is trained on roughly 100,000 hours of neural recordings from about 100 volunteers at launch, that the first version targets around 30 words per minute, and that the model can already predict a user's next three to four keystrokes from brain signals; it says neural data is encrypted in transit and during training. Pricing and a shipping date have not been announced, and no peer-reviewed performance data has been published.

   TestingCatalog · 🔥 0
5. Oct 6
   Gamma 5 launches rebuilt presentation platform to strip the 'AI smell' from slides

   Gamma introduced Gamma 5 on Oct. 6, a rebuilt presentation platform with a redesigned editor, a more capable AI agent and thousands of visual templates, aimed at complaints that AI-generated decks look repetitive and generic. The platform combines more than 20 AI models, including ones from Anthropic, OpenAI and Google, plus roughly 20 connectors to outside sources such as Slack, Granola, Fireflies and Fathom. Gamma says an internal benchmark for the visual accuracy of imported files improved from about 30% early in development to over 97%.

   SiliconANGLE AI · 🔥 0

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