Perplexity raises over $250 million to develop its own AI search engine

Perplexity, an AI-based search engine startup, is attracting attention with a significant funding round that aims to raise more than $250 million and values the company at $2.5-3 billion.

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Well-known funds such as NEA and IVP are considering participating in the project, although the decision may depend on Perplexity's approach to existing investors rather than diversification. The startup's focus on incorporating a variety of large language models makes it stand out in the AI market.

Despite its short existence since 2022, Perplexity boasts an impressive list of investors, including venture capital funds such as Sequoia, strategic partners such as Nvidia, and well-known personalities such as Jeff Bezos and Meta AI scientist Yann LeCun.

Perplexity's rapid fundraising is in line with trends in the AI sector, reflecting the company's commitment to targeted solutions rather than multi-purpose models. By focusing on search and enterprise capabilities, the startup aims to capitalise on market interest and address the high costs of AI development.

Source: Tech Crunch