Since its inception in 2021, the OpenAI Startup Fund has raised 175millionforitsprimaryfundandanadditional175millionforitsprimaryfundandanadditional114 million through five special purpose vehicles (SPVs), which are tailored for specific investment opportunities. Unlike many large tech companies, OpenAI does not use its own capital to invest in startups. Instead, the fund is backed by external investors, including Microsoft and other OpenAI partners, as stated on its website.
Managed by a dedicated team, the OpenAI Startup Fund has invested in over a dozen startups, according to data from PitchBook, Crunchbase, and TechCrunch. Below is an alphabetical overview of the companies that have publicly announced funding from the fund:
Portfolio Companies
1X (Humanoid Robotics)
- In early 2023, this Norwegian startup raised 23.5millioninaroundledbyOpenAIandTigerGlobal.However,OpenAIwasnotlistedasaninvestorin1X’s23.5millioninaroundledbyOpenAIandTigerGlobal.However,OpenAIwasnotlistedasaninvestorin1X’s100 million Series B round announced in January 2024.
Ambience Healthcare (AI Medical Scribes)
- In February 2024, Ambience secured a $70 million Series B co-led by OpenAI and Kleiner Perkins. The company is part of a growing field of AI-powered medical documentation tools, competing with Abridge, Nuance, and others.
Anysphere (Cursor) (AI Coding Tools)
- OpenAI led an $8 million seed round in October 2023 for Anysphere, the creator of the AI-powered coding assistant Cursor. OpenAI has not participated in subsequent funding rounds.
Chai Discovery (AI Drug Discovery)
- In September 2023, Chai Discovery raised 30millioninaseedroundco−ledbyThriveCapitalandOpenAI,valuingthesix−month−oldstartupat30millioninaseedroundco−ledbyThriveCapitalandOpenAI,valuingthesix−month−oldstartupat150 million. The company focuses on open-source AI models for pharmaceutical research.
Class Companion (EdTech)
- This startup raised a $4 million seed round in 2023, backed by OpenAI and several angel investors. Its platform helps teachers provide personalized feedback to students.
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Descript (Multimedia Editing)
- Shortly after ChatGPT’s launch in late 2022, Descript raised $50 million in a Series C round led by OpenAI. Other investors included Andreessen Horowitz, Redpoint Ventures, and Spark Capital. No further funding has been reported since.
Figure AI (Robotics)
- In February 2024, Figure AI raised 675millioninaSeriesBroundata675millioninaSeriesBroundata2.6 billion valuation, with investments from OpenAI, Microsoft, and Nvidia. The company is now reportedly seeking 1.5billionata1.5billionata39.5 billion valuation.
Ghost Autonomy (Self-Driving Software)
- OpenAI invested 5millioninGhostAutonomy’s5millioninGhostAutonomy’s55 million Series E round in April 2023. However, the startup shut down a year later.
Harvey AI (Legal Tech)
- OpenAI participated in Harvey’s 21millionSeriesAinApril2023andthreesubsequentrounds,includinga21millionSeriesAinApril2023andthreesubsequentrounds,includinga300 million Series D in June 2024, valuing the company at $3 billion.
Heeyo (EdTech)
- In August 2023, Heeyo raised $3.5 million for its AI-powered educational chatbot designed for children. Investors included OpenAI, Alexa Fund, and Pear VC.
Kick (AI Bookkeeping)
- This startup, which develops AI agents for automating bookkeeping, raised a $9 million seed round in October 2023, co-led by General Catalyst and OpenAI.
Mem (AI Note-Taking)
- OpenAI led a $23.5 million Series A round for Mem in November 2022. The company has not announced any additional funding since.
Milo (Parenting Assistant)
- Milo, an AI-powered personal assistant for parents, raised undisclosed pre-seed and seed funding from OpenAI, Y Combinator, and others.
Physical Intelligence (Robotics Software)
- In March 2023, Physical Intelligence raised 70millioninseedfunding,withOpenAIparticipating.Thefundalsojoinedthecompany’s70millioninseedfunding,withOpenAIparticipating.Thefundalsojoinedthecompany’s400 million Series A, which valued it at over $2 billion. Other investors included Lux Capital, Sequoia, and Jeff Bezos.
Speak (Language Learning)
- OpenAI led a 27millionSeriesBforSpeakinNovember2022andparticipatedina27millionSeriesBforSpeakinNovember2022andparticipatedina78 million Series C in December 2023, valuing the company at $1 billion.
Thrive AI (AI Health Coaching)
- In July 2023, Arianna Huffington and OpenAI announced a partnership to build Thrive AI, an AI-powered health coach. The startup aimed to raise $10 million, according to regulatory filings.
Unify (Sales Tech)
- Unify secured approximately $19 million in seed and Series A funding from OpenAI, Thrive Capital, and Emergence.
