Latest news with #EclipseVentures
Business Insider
7 days ago
- Business
- Business Insider
Genesis AI Raises $105M to Train Robotics AI Aiming at $30T Labor Market
Genesis AI, a private company, has raised $105 million in seed funding to develop a universal robotics foundation model (RFM) designed to automate physical labor across industries. The round was co-led by Eclipse Ventures and Khosla Ventures, with participation from Bpifrance, HSG, and notable investors including former Google (GOOG) CEO Eric Schmidt and French billionaire Xavier Niel. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The company, founded in December 2024, operates out of Palo Alto and Paris. Its co-founders are Zhou Xian, a Carnegie Mellon robotics Ph.D. holder, and Théophile Gervet, a former researcher at Mistral AI. Genesis Aims for Full Stack Approach Genesis AI's core product is a large-scale model designed to equip robots with the ability to handle a wide range of real-world tasks. Its in-house physics simulation engine generates high-quality synthetic data, reducing the need for expensive and time-consuming real-world data collection. Combined with a data pipeline for real robot interactions, the company claims it can build robotics AI systems faster and more cost-effectively than competitors relying on third-party tools. The goal is to bring general-purpose robotics closer to reality by making it more flexible, robust, and cost-efficient. Genesis AI plans to release components of its model and data engine to the developer community by the end of 2025. $30 Trillion to $40 Trillion in Global GDP According to the company, over 95% of physical labor worldwide remains unautomated, despite accounting for an estimated $30 trillion to $40 trillion in global GDP. Genesis AI is targeting this opportunity with a full-stack approach that spans simulation, generative modeling, and real-world deployment. While competitors like Tesla (TSLA) and Nvidia (NVDA) focus on hardware or modular platforms, Genesis AI is betting that foundation models will define the next phase of robotics. If successful, its platform could support a range of use cases, from warehouse operations to consumer robots. Using TipRanks' comparison tool, we've assembled and compared the tickers appearing in the piece that operate in the robotics sector. This helps investors gain a proper perspective on each stock's performance and the industry as a whole.
Mid East Info
25-06-2025
- Business
- Mid East Info
AIREV and Tenstorrent Unite to Launch Advanced Agentic AI Stack — A Defining Moment for UAE–US Tech Collaboration and the Globalization of Emirati AI
Abu Dhabi, UAE – June, 2025: AIREV, a fast-growing UAE AI startup, has entered a strategic partnership with Tenstorrent, the U.S.-based AI chip company, to co-develop and deploy a high-performance agentic AI stack designed for enterprise and sovereign use. This move represents a defining moment for UAE-born AI going global—with U.S. hardware integration validating the scalability, maturity, and export-readiness of local innovation. Tenstorrent, founded by veteran chip designer Jim Keller, is designing AI focused architectures and high-performance RISC-V CPUs, alongside configurable chiplets and an open source software stack. In this collaboration, AIREV's sovereign-grade agentic platform OnDemand is being deployed directly on Tenstorrent's hardware. A dedicated Agentic AI Development Node will be launched in the UAE to demonstrate the solution's performance under real-world enterprise and public sector workloads, with secure, airtight on-premise deployment as a core feature. 'This is more than a technical integration—it's about exporting the UAE's AI capability to the world,' said Muhammad Khalid, CEO of AIREV. 'Our partnership with Tenstorrent shows that Emirati AI isn't just regional—it's globally viable, globally scalable, and now globally validated.' 'We're excited to partner with AIREV and their team of developers,' said Jim Keller, CEO of Tenstorrent. 'The integration of Tenstorrent's hardware with their agentic AI solution will be great for cloud, on-prem, and high-security deployments and we're excited to enable AI innovation in the UAE.' Following successful validation, AIREV and Tenstorrent will activate a co-branded global strategy targeting regulated industries, enterprises, and public sector institutions across North America, Asia, and the Gulf. 'With this partnership, we're building the infrastructure and the playbook to take UAE AI global,' Khalid added. 'It aligns perfectly with the UAE's 2031 AI Vision, where exporting innovation—not just importing it—is central to diversifying our economy and establishing the UAE as a true AI powerhouse.' About AIREV: AIREV is the UAE's fastest-growing AI startup, specializing in agentic systems and enterprise-grade GenAI. Its flagship product, OnDemand, allows public and private sector organizations to securely deploy and orchestrate AI agents across sovereign, private, or hybrid environments. About Tenstorrent: Tenstorrent is a next-gen computing company that builds computers for AI. Headquartered in the U.S. with offices in Austin, Texas, and Silicon Valley, and global offices in Toronto, Belgrade, Seoul, Tokyo, and Bangalore, Tenstorrent brings together experts in the field of computer architecture, ASIC design, RISC-V technology, advanced systems, and neural network compilers. Tenstorrent is backed by Eclipse Ventures
Business Wire
20-05-2025
- Business
- Business Wire
Reliable Robotics Appoints Marc Stoll as Chief Financial Officer
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Reliable Robotics, a leader in autonomous aircraft systems, today announced the appointment of Marc Stoll as its new Chief Financial Officer (CFO). Stoll brings a wealth of experience in financial leadership, operational excellence, and strategic growth from his previous roles as Partner at Eclipse Ventures, President and COO of Nextiva and VP of Finance at Apple. His expertise will be instrumental in guiding Reliable Robotics through its next phase of development, commercialization and scale. Marc Stoll's impressive track record of driving growth and operational efficiency in technology-driven companies makes him an invaluable addition to our leadership team. --Robert Rose, Co-founder and CEO of Reliable Robotics Share In his role as CFO, Stoll will oversee all financial operations, including financial planning and analysis, accounting, treasury, and investor relations. He will play a key role in shaping the company's financial strategy as it continues to advance its autonomous flight technology and prepare for broader market entry. 'Marc's impressive track record of driving growth and operational efficiency in technology-driven companies makes him an invaluable addition to our leadership team,' said Robert Rose, Co-founder and CEO of Reliable Robotics. 'We are excited to bring his experience to the team as we scale our business and deliver autonomy to aviation.' Stoll brings over two decades of leadership experience in the technology sector. As Partner at Eclipse Ventures he focused on investing in and scaling innovative hard-tech companies like Reliable. As President and COO of Nextiva he was responsible for the company's day-to-day operations and played a key role in capital raising and growth. Stoll also held the position of VP Finance at Apple, where he managed the financial aspects of Apple's global sales organization during the scale of the iPhone and launch of the iPad. Beyond his executive roles, Stoll has a strong history of board involvement, having served on the board of directors of numerous public and private boards, including Arista Networks and Windstream. He has also contributed his expertise as a member of the board of advisors for Mayo Clinic's pediatric congenital heart disease (CHD) program and currently serves on the board of advisors for HeartWorks, the leading research organization focused on curing pediatric CHD. Stoll holds an MBA from the University of Chicago Booth School of Business. 'Reliable Robotics is far and away the leader in autonomous aviation,' said Stoll. 'I am excited to join such an experienced team to help the company achieve its ambitious goals of improving safety and revolutionizing the future of flight.' About Reliable Robotics Reliable Robotics launched in 2017 to bring certified autonomous vehicles to commercial aviation as soon as possible. The company's automation system enables remote operation of any aircraft type and will expand access to more locations. Reliable's vision is to transform the way we move goods and people around the planet with safer, more convenient and more affordable air transportation. The company is headquartered in Mountain View, CA and has a distributed global workforce. Learn more and see job openings at
