Total amount raised
$3.3 Million
Latest funding date
7/1/2017
Location
Rabbit has successfully navigated four funding rounds, attracting investment from notable backers such as J17 Ventures and Khosla Ventures. The most recent funding round is categorized as a "Venture - Series Unknown," reflecting the company's ongoing growth and innovation in the AI assistant device market.
Keep reading to explore the intricacies of rabbit's fundraising journey and the investors backing this innovative platform.
What Is rabbit?
Rabbit is a consumer artificial intelligence company based in Los Angeles, California. Specializing in AI assistant devices, the company develops and sells custom handheld devices for human-AI interaction.
Founded by Jesse, Rabbit operates in the industries of Artificial Intelligence, Consumer Electronics, Hardware, and Operating Systems. The company has a team of 11-50 employees and has raised funding over four rounds, with the latest being a "Venture - Series Unknown" round.
How Much Funding Has rabbit Raised?
- Series Unknown
- Amount Raised: USD 28,699,936
- Date: March 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation in the AI assistant device market.
- Series A
- Amount Raised: USD 10,000,000
- Date: December 2023
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale engineering and product development efforts and prepare for a hardware launch.
- Seed
- Amount Raised: USD 20,000,000
- Date: October 2023
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To introduce the Large Action Model (LAM) and enhance product development.
- Seed
- Amount Raised: Not publicly disclosed
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
Total Amount Raised: USD 58,699,936
Current Valuation: Not publicly disclosed
Key Investors
- Khosla Ventures
- Details: Founded by renowned venture capitalist Vinod Khosla, Khosla Ventures manages over $15 billion in assets. The firm focuses on early-stage companies and has a strong track record in the tech industry.
- Investment Focus Areas: AI, Sustainability, Enterprise, Consumer, Health, Frontier technologies
- Notable Investments: OpenAI
- Synergis Capital
- Details: Synergis Capital is an existing investor in rabbit, participating in multiple funding rounds. The firm is known for its strategic investments in innovative tech companies.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Kakao Investment
- Details: Kakao Investment is a strategic partner in rabbit's funding rounds. The firm is part of the larger Kakao Corporation, which is a major player in the South Korean tech industry.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- J17 Ventures
- Details: J17 Ventures is one of the major investors in rabbit. The firm focuses on high-growth potential startups in the tech sector.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for rabbit?
Rabbit stands at the cusp of significant growth, driven by the launch of its AI assistant device, the rabbit r1. This product, powered by the Large Action Model (LAM), offers users a personalized and intuitive interaction with technology. The market for AI-powered personalized operating systems and consumer hardware is vast, presenting Rabbit with substantial opportunities to scale its engineering and product development efforts.
As Rabbit prepares for its hardware launch, the company is well-positioned to attract further investment. The successful $20 million funding round led by Khosla Ventures indicates strong investor confidence. Future fundraising rounds could support expanded product lines and enhanced features, ensuring Rabbit remains competitive in the rapidly evolving AI market.
However, Rabbit faces challenges, including ensuring the accuracy and reliability of its AI outputs and meeting consumer expectations. Competing with other AI and tech companies will require continuous innovation and strategic planning. Despite these hurdles, Rabbit's innovative technology and strong investor backing suggest a promising future.
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