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Codeium, an AI-powered code acceleration platform, has successfully raised $150 million in a Series C funding round, elevating its valuation to $1.25 billion and marking its status as a unicorn. This funding round was led by General Catalyst, with participation from existing investors like Kleiner Perkins and Greenoaks. The CEO of Codeium, Varun Mohan, emphasized that this funding will empower developers to innovate and tackle challenges more effectively.
The newly acquired funds will be utilized to enhance product offerings, expand the workforce, and strengthen partnerships to maximize AI strategies. Codeium has seen significant growth, with a user base exceeding 700,000 active developers and processing over 100 billion tokens daily. The company is also focused on addressing legal risks associated with code generation by filtering training data to avoid copyrighted material.
• Codeium raises $150 million, achieving a $1.25 billion valuation.
• Codeium processes over 100 billion tokens daily, enhancing developer productivity.
Codeium achieved unicorn status within two years of its inception.
Codeium's platform leverages this technology to improve developer productivity.
Codeium utilizes these models to streamline software development processes.
Codeium has rapidly grown its user base and secured significant funding to expand its offerings.
Magic's funding round included notable investors like Eric Schmidt and Atlassian.
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Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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