Total amount raised
$121.3 Millions
Latest funding date
06/01/2024
Location
Soul Machines has successfully raised funding from notable investors, including Liberty City Ventures and Temasek Holdings, among others. The company is a pioneer in the humanization of AI, creating empathetic AI Assistants powered by their patented Digital Brain™.
Keep reading to explore the intricacies of Soul Machines' fundraising journey and the investors backing this innovative platform.
What Is Soul Machines?
Soul Machines, founded in 2016 by Greg Cross and Mark Sagar, is headquartered in San Francisco, California. The company operates in the Artificial Intelligence (AI), E-Learning, Machine Learning, Software, and Virtual Reality industries.
With an employee count ranging from 51 to 100, Soul Machines is a pioneer in the humanization of AI. They create engaging and empathetic AI Assistants powered by their patented Digital Brain™ technology, aiming to revolutionize customer engagement and digital experiences through ethical and innovative AI solutions.
How Much Funding Has Soul Machines Raised?
- Series A
- Amount Raised: $7.5M
- Date: November 2016
- Lead Investors: Horizon Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for developing their Digital Brain™ technology and AI Assistants.
- Series B
- Amount Raised: NZ$57.5M
- Date: January 2020
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market presence and enhance their AI technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series B
- Amount Raised: $70M
- Date: February 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of digital people for interactive experiences in the metaverse.
- Convertible Note
- Amount Raised: $5.6M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling operations and enhancing AI capabilities.
Total Amount Raised: $83.1M
Current Valuation: Not publicly disclosed
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a global technology investment fund managed by SoftBank Group. It is known for its significant investments in AI and robotics.
- Investment Focus Areas: AI, Robotics, Telecommunications
- Notable Investments: Uber, WeWork, Arm Holdings
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company owned by the government, focusing on sustainable growth. It has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, Healthcare, Financial services
- Notable Investments: Alibaba, GIC, Singtel
- Horizon Ventures
- Details: Horizon Ventures is a venture capital firm based in Hong Kong, known for early-stage investments in technology. It has backed several high-profile tech companies.
- Investment Focus Areas: Technology, Media, Telecommunications
- Notable Investments: Facebook, Spotify, Zoom
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. It supports innovative companies that extend the power of the Salesforce platform.
- Investment Focus Areas: Enterprise cloud, SaaS, AI
- Notable Investments: Zoom, DocuSign, Twilio
- Liberty City Ventures
- Details: Liberty City Ventures is a venture capital firm that invests in early-stage companies. It aims to support innovative startups with the potential for significant growth.
- Investment Focus Areas: Early-stage technology, Fintech, Blockchain
- Notable Investments: Not publicly disclosed
What's Next for Soul Machines?
Soul Machines is poised to capitalize on the burgeoning opportunities in the metaverse and digital entertainment sectors. With significant financial backing, including a recent $70 million Series B1 round, the company is well-positioned to expand its Digital Brain technology and create hyper-realistic digital twins of celebrities. This expansion into the Enterprise market and collaborations with global brands like NESTLÉ® TOLL HOUSE® and Twitch highlight the vast potential for growth.
Future fundraising opportunities appear promising, given the strong investor interest from entities like SoftBank Vision Fund 2 and Temasek. As Soul Machines continues to innovate, additional rounds of funding could further accelerate their technological advancements and market reach. However, challenges such as ensuring scalability, navigating a competitive landscape, and addressing ethical concerns around AI and digital people remain critical considerations for the company's future trajectory.
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