IBM Acquires AI Startup Seek And Launches $500M-Backed Watsonx AI Labs In NYC To Tackle Data Innovation With Agentic Intelligence
The acquisition coincides with the launch of Watsonx AI Labs. According to IBM, Seek AI's software will become a foundational part of the lab's technological framework.
Founded in 2021 by former data scientist Sarah Nagy, Seek AI builds tools that allow users to interact with complex datasets using natural language prompts, automatically converting them into structured query language queries and generating insights, TechCrunch reports.
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IBM said in the statement that Seek AI's natural language platform will be integrated into its AI development ecosystem, enabling startups and partners to build applications with conversational data capabilities.
The newly launched Watsonx AI Labs is located in Manhattan's Flatiron District at One Madison, where IBM says it plans to build and test next-generation AI systems with engineers, researchers, and startups.
According to IBM, the lab will co-create enterprise-ready AI applications spanning cybersecurity, customer service, and open-source frameworks. The facility will also focus on domain-specific AI solutions and prioritize responsible governance, a rising concern among enterprise adopters.
New York City's growing role in AI development factored heavily into IBM's decision to base the lab there. According to Tech: NYC, the city hosts over 2,000 AI startups and experienced a 25% increase in AI workforce growth from 2022 to 2023. Since 2019, AI startups in NYC have collectively raised $27 billion in funding.
IBM mentioned in the statement that it also plans to collaborate with local universities and research institutions to nurture future talent and expand its innovation footprint.
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Seek AI had previously secured nearly $10 million in backing from investors such as Battery Ventures, Conviction Partners, and NJP Ventures, according to TechCrunch.
Once the acquisition is finalized, IBM says the startup will relocate its operations to One Madison, aligning itself physically and strategically with IBM's flagship Manhattan-based Watsonx AI Labs.
'By anchoring this mission in New York City, we are investing in a diverse, world‑class talent pool and a vibrant community whose innovations have long shaped the tech landscape,' Ritika Gunnar, IBM's general manager of data and AI, said in the statement.IBM said that it will provide select startups inside the lab with mentorship, access to technical talent, and financial support through its $500 million Enterprise AI Venture Fund. These startups will be able to test, refine, and deploy AI applications built with tools like Seek AI's natural language platform. Companies successfully building enterprise-ready solutions may be eligible for long-term partnership and global amplification via IBM Ventures.
Julie Samuels, president and CEO of Tech: NYC, said in IBM's statement that the move underscores New York's strength as an innovation hub and a magnet for enterprise AI development. She added that the initiative could be transformative for local communities and the broader tech economy.
With Seek AI's technology now in-house and the Watsonx AI Labs underway, IBM appears committed to shaping the future of enterprise AI from the epicenter of one of the world's most dynamic cities.
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This article IBM Acquires AI Startup Seek And Launches $500M-Backed Watsonx AI Labs In NYC To Tackle Data Innovation With Agentic Intelligence originally appeared on Benzinga.com
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