Salesforce Ventures, a VC offshoot of tech company Salesforce, has announced that it will be expanding its Generative AI Fund from $250m to $500m, with the aim of investing in startups that develop responsible generative AI. The company has already invested in several businesses, including Cohere, You.com, and Hearth.AI. The fund is distinguished by the diverse range of technologies it supports, with investments ranging from wearable, screenless AI assistants to AI-powered search engines. While far from the only fund investing primarily in generative AI, Salesforce aims to differentiate its tranche by prioritising ethical AI technologies, focusing on those that also reduce personally identifiable information before sending it through platforms such as OpenAI’s ChatGPT. Salesforce has a number of vertical-specific investment funds, including funds aimed at particular geographies such as Japan or Canada and a dedicated AI fund. Generative AI is expected to be a massive market opportunity, with Grand View Research predicting that the sector could be worth roughly $109bn by 2030.
Salesforce Commits $500 Million Investment towards Generative AI Startups
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