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Extropic Secures $14.1 Million In Seed Funding To Propel Novel Physics-Based Computing Paradigm

Dec 12, 2023•over 1 year ago

Amount Raised

$14.1 Million

Round Type

seed

San FranciscoInformation Technology

Investors

Naval RavikantBalaji SrinivasanArash FerdowsiAmjad MasadAidan GomezBackers ExtropicWeekend FundValor Equity PartnersOss CapitalMarque VcJulian CapitalHof CapitalBuckley VenturesKindred VenturesSteve Jang

Description

Extropic, a pioneering force in the realm of physics-based artificial intelligence (AI), proudly announces the successful completion of its $14.1 million Seed round. Led by Steve Jang and Kindred Ventures, renowned for their contributions to Uber, Coinbase, and Humane, the funding round features prominent participants such as Buckley Ventures, HOF Capital, Julian Capital, Marque VC, OSS Capital, Valor Equity Partners, Weekend Fund, and a host of distinguished angel investors.

Company Information

Company

Extropic

Location

San Francisco, California, United States

About

Extropic was founded in 2022 by Guillaume Verdon, Extropic CEO, a pioneer in quantum deep learning and former quantum tech lead within the Physics & AI team at Alphabet's X. The team also includes Trevor McCourt, Extropic CTO, and Christopher Chamberland, Extropic Principal Architect, both recognized for their significant contributions to the field of quantum computing.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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