News linked to both this project and an event.
According to Fortune, AI startup Arcee AI announced the completion of its Series B funding round, raising at least $150 million with a pre-money valuation of $1 billion. The round was led by Vista Equity Partners, Cambium Capital, and Emergence Capital, with participation from Microsoft M12, Hitachi, Wipro, and other investors. Founded in 2023 by Mark McQuade, an early employee at Hugging Face, Arcee AI focuses on developing open-weight models. The company trained four open-weight models, including the 400-billion-parameter model Trinity Large, for only about $20 million, achieving performance comparable to Meta’s Llama 3 and leading Chinese models. The funding will support new model R&D, product expansion, and deeper collaboration with the U.S. Department of Energy.
According to Bloomberg, UK real estate tech startup Dwelly announced it has completed $170 million in financing to acquire more real estate businesses and integrate artificial intelligence into its operations. The round was led by EQT Growth and General Catalyst and included $95 million in equity financing and a $75 million debt facility provided by Trinity Capital. The company did not disclose its valuation.