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Essential AI, a startup specializing in artificial intelligence, is making headlines with a whopping $56.5M of funding. Founded by Google research paper authors, Essential AI is set to change corporate functions like data analysis using AI, earning the moniker “Enterprise Brain”.

  • Redefining Work: Essential AI aims to streamline and automate tedious tasks, a goal that CEO Ashish Vaswani believes holds significant potential.
  • Investor Confidence: The company’s recent funding round, led by March Capital, saw participation from prominent industry players such as Advanced Micro Devices Inc., Franklin Venture Partners, Alphabet Inc.’s Google, Nvidia Corp., and Thrive Capital.
  • Founding Fathers: The startup was launched by Ashish Vaswani and Niki Parmar, notable for their influential article “Attention Is All You Need”. This research laid the groundwork for large language models that underpin chatbots like OpenAI’s ChatGPT and Google’s Bard.
  • Earlier Success: Essential AI had previously secured $8.3M in a funding round led by Thrive Capital. The company’s valuation, however, remains undisclosed.

Before Essential AI, co-founders Parmar and Vaswani also established Adept, a machine learning research and product service. Adept raised an impressive $350M in a funding round earlier this year.

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