Swiss AI startup Giotto.ai seeks funding at over $1 billion valuation, sources say

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Swiss AI lab Giotto.ai is seeking to raise funding at a valuation above $1 billion, pitching itself as Europe’s latest contender in the race for artificial general intelligence (AGI), people familiar with the matter told Reuters.

The Lausanne-based startup has hired investment bank Lazard to help raise more than $200 million, the people said, requesting anonymity to discuss private matters.

The company told prospective investors that the capital will be used to invest in AI research, build its first commercial prototypes with enterprise and government…



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Swiss AI startup Giotto.ai seeks funding at over $1 billion valuation, sources say



Swiss AI lab Giotto.ai is seeking to raise funding at a valuation above $1 billion, pitching itself as Europe’s latest contender in the race for artificial general intelligence (AGI), people familiar with the matter told Reuters.

The Lausanne-based startup has hired investment bank Lazard to help raise more than $200 million, the people said, requesting anonymity to discuss private matters.

The company told prospective investors that the capital will be used to invest in AI research, build its first commercial prototypes with enterprise and government…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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